The so-called Vulnerable Twenty (V20) Group was established in October 2015 with the inaugural meeting of the V20 Ministers of Finance at the Climate Vulnerable Forum in Lima, Peru. The V20 can be considered as an example of the importance of early action in the field of adaptation in order to initiate a transformative change towards resilient societies.
The V20 members represent a broad cross-section of countries in terms of size, geographical location, poverty and economic development. A number of them even count as fragile states in a “high alert” situation (Afghanistan, Tanzania) and others with “alert” (Bangladesh, Ethiopia, Kenya, Nepal, Rwanda, Timor Leste). There countries therefore deserve particular attention when considering the potential impact of climate change risks and how to deal with them.
This report serves as a compendium of the V20’s climate risk profiles, adaptation needs and policy approaches, and aims to help readers easily identify what is needed in terms of support for adaptation activities in each country. In this regard, we outline the varying climate risks the V20 countries face, and review the adaptation finance needs these governments have identified in order to offer an initial assessment of the costs required to promote early action. In addition, we provide insights into the potential role of adaptation planning and risk insurance – approaches that are increasingly gaining prominence in discussions surrounding global adaptation governance.