Barbados to chair V20 Group

Barbados will take over from Ghana as Chair of The Vulnerable 20 (V20) Group in May, says Prime Minister Mia Amor Mottley.

During her first address to the nation in 2024 from Ilaro Court, St Michael on Saturday, Mottley explained the relevance of the group that Barbados is set to chair.

“This is a global partnership of 68 countries from Africa, Asia, Caribbean, Latin America and the Pacific which are disproportionately affected by the climate crisis,” she said.

“It is proposed that Senator Ambassador Elizabeth Thompson will assume responsibility as my Sherpa for the period of time that Barbados will chair this most critical of groups on a global landscape. This appointment should be seen as supporting the transformative agenda that the Government has framed for our development.”

She continued: “This is particularly driven by my personal need to broaden the participation of competent persons who can assist me in sharing the burden of international responsibility. Indeed our outstanding participation internationally has made the difference in our capacity to attract the kind of international assistance to overcome many of the challenges that have caused others in similar circumstances to crumble.”

The Prime Minister sought to alleviate any fears among the public that she was not focused on the issues closer to home despite her work abroad.  

“Rest assured, I will not take my eyes away from all that is happening in Barbados, even when I am off island. Technology is that game changer, so much so that you can hear my voice now through it, irrespective of the fact that you are not here with me right now in Ilaro Court.”

The 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 group announced their Accra-Marrakech Agenda on October 16 last year which states four steps to save vulnerable groups from climate disaster.

1. Make Debt Work for the Climate by: reforming the Common Framework that enables all debt distressed climate vulnerable developing economies to obtain the necessary debt relief in a predictable, efficient and timely manner so that V20 countries can leverage new financing to pursue their Climate Prosperity Plans. 
2. Transforming the International and Development Financial System by completely reshifting pre 20230 public development and international finance from brown to green and shifting public financial support away from climate incompatible investments to renewable energy, resilient infrastructure and nature based solutions. 
3. A new global deal on Carbon Financing which forces major polluting economies whose 2030 Paris Agreement emission targets fall short of its central goal- 1.5 degrees Celsius limit- on a fair-shares basis must strengthen targets, starting in 2023 until full and equitable compliance is achieved. 
4. Revolutionise Risk Management for the climate insecure world economy by scaling up pre-arranged financing options to tackle climate impacts and shocks especially for most vulnerable economies. It also includes improving the access, management and delivery of resources ahead of time, instead of post disaster responses underscored by efforts under the G7/V20 Global Shield.

The 68 nations (32 from Africa and the Middle East, 22 from Asia and 14 from Latin America & Caribbean) which comprise the V20 Group equate to 1.7 billion people on the planet. It also makes up five per cent of the world’s global emissions and a Gross Domestic Product of USD $3.8 Trillion. 

Barbados is one of 11 nations to be founding members of the group in 2009, six years prior to it being officially founded in Peru and will be the first from the Caribbean to chair it. (JC)