Vulnerable economies call on rich nations to avert global climate-Covid economic threat
Sun Online Desk
Vulnerable economies on Thursday called upon the rich nations to avert global climate-Covid economic threat.
The 48 most vulnerable economies demand “2020-2024 delivery plan” for the missing $100 billion annual Paris Agreement climate assistance.
Led by Bangladesh as chair of the V20, the world’s most climate vulnerable economies met virtually as heads of state and government, ministers of finance and economy, together with leaders of the United Nations, partner economies and the global financial system to address the compound, destabilizing effect of climate disasters and the Covid-19 pandemic on low- and middle-income economies.
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‘Economies facing fiscal, sustainability pressures amid climate disasters, Covid-19 pandemic’
V20 finance ministers tell GCA Summit Star Online Report Star Online Report
The Vulnerable 20 Group of Finance Ministers (V20) have highlighted mounting pressures to their economies amidst climate disasters and the Covid-19 pandemic during the inaugural Global Climate Adaptation (GCA) Summit.
The V20 is seeking support for new climate investments to exceed the low-bar USD 100 billion target for international climate finance that the group can deploy in their respective economies, according to a press release issued today. The world economy is at a historic crossroads. Covid-19 has shown the inadequacy in our preparation, said Bangladesh Finance Minister Mustafa Kamal.