CVF-V20 JOINT
MULTI-DONOR FUND
PURPOSE AND VISION
The Climate Vulnerable Forum (CVF) and V20 Finance Ministers (CVF–V20) Joint Multi-Donor Fund (JDMF) is a pooled funding mechanism launched in 2020 to support 74 climate-vulnerable countries—home to over 1.7 billion people and 22.4% of the global population. The Fund is designed to advance climate prosperity, promote South–South cooperation, and scale up action on adaptation, mitigation, and loss and damage. It empowers CVF-V20 member countries to advocate for their collective climate and development agenda and shape global policies, while building capacity to deliver transformational change at home. The Fund underpins the unified vision of the CVF-V20 to translate development-positive climate action agenda into real economy financing, investments, and outcomes.
HOW THE FUND WORKS
GOVERNANCE
The Fund Board oversees strategic direction and funding decisions. This Board is chaired by the current CVF–V20 Chair and includes representatives of both the member countries (CVF-V20 Troika) and contributing donors
Her Excellency Ambassador Elizabeth Thompson of Barbados, Prime Minister Mottley’s Sherpa on the CVF-V20, currently serves as the Fund Board Chair.
CVF-V20 Secretary General His Excellency Mohamed Nasheed and his team work closely with the Fund Board Chair, United Nations Office for Project Services (UNOPS), and donor partners to drive the Fund’s work forward.
MANAGEMENT
The CVF–V20 Secretariat leads technical oversight and provides strategic advice on the Fund’s work programme. While UNOPS manages fund operations, fiduciary functions, and implementation oversight.
IMPLEMENTATION
Activities are delivered through work plans approved by the Fund Board and implemented by various partners selected via competitive or pre-identified processes.
STRATEGIC PRIORITIES
Global Advocacy & Representation
Strengthening global presence and collective voice of CVF–V20 member countries in climate and financial governance forums to advocate for and represent their shared vision for climate prosperity. Activities include support for high-level dialogues, strategic communications, and specialized training through global fellowships.
Climate Prosperity Plan (CPP) Implementation
Supporting country-led investment strategies that enable developing nations transform climate risks into economic opportunities—through tailored technical assistance, innovative knowledge tools, and strategic partnership development.
Loss & Damage Response
Delivering targeted support to restore livelihoods and infrastructure in climate-affected communities. Small grants help strengthen local resilience through adaptation measures and early warning systems.
Technical Leadership & Coordination
Enabling the CVF–V20 Secretariat to guide the Fund’s priorities, coordinate technical activities, foster partnerships, and ensure impact and accountability in collaboration with UNOPS.
IMPACT TO DATE
CLIMATE DIPLOMACY TRAINING & FELLOWSHIPS
The JMDF has facilitated capacity-building initiatives, including fellowships and training programs, to enhance the diplomatic and policy engagement of CVF–V20 member country representatives.
Example: The V20 Climate Prosperity Fellowship Program, launched in partnership with Boston University’s Global Development Policy Center, supports finance ministry officials from CVF–V20 member states in advancing climate action.
Development of Climate Prosperity Plans (CPPs)
The JMDF has supported the development of country-led Climate Prosperity Plans – strategic investment frameworks aimed at achieving low-carbon, climate-resilient development.
Example: Bangladesh, Bhutan, Ghana, Haiti, Pakistan, and Sri Lanka have developed CPPs with JMDF’s catalytic support.
Strategic Dialogues and High-Level Engagements
The JMDF has facilitated South-South cooperation by supporting ministerial and other high-level events that bring CVF–V20 member countries together to advance shared climate priorities.
Example: The V20 Ministerial Dialogue XIV brought together finance ministers to address the escalating climate crisis—from debt and fiscal stress to health risks—while exploring reform needs for green growth, jobs, security, and resilience.
Knowledge and Policy Tools
The JMDF has supported the production and dissemination of research and tools that inform evidence-based policymaking, strengthen advocacy, and guide climate action in CVF–V20 member countries.
Example: The Climate Vulnerability Monitor draws on the latest research to track socio-economic and environmental impacts across countries, using 32 indicators to project how risks evolve under different global warming scenarios.
Loss and Damage Response
The JMDF is preparing to support the second phase of the V20 Loss and Damage Funding Program by providing small grants to affected communities to support immediate recovery and resilience-building efforts.
Example: Loss and damage projects in the Pacific region and Ghana will be launched in the second half of 2025.
Global Recognition
The JMDF has been recognized as one of the three financing vehicles under the Global Shield Against Climate Risks, highlighting its role in enhancing financial protection and addressing loss and damage for vulnerable communities.
Example: The Global Shield, a joint initiative by the G7 and V20, aims to strengthen the financial protection and resilience of vulnerable countries, with the JMDF serving as a key financing vehicle.
IMPLEMENTATION PARTNERS
Currently
Climate Analytics leads the Science Consortium behind the Climate Vulnerability Monitor 3 —a global tool tracking the impacts of climate change on countries’ environments, economies, and public health, both now and in the future.
International Labour Organization (ILO) analyzes how heat stress affects jobs and productivity, providing policy recommendations to help shape Climate Prosperity Plans in CVF–V20 countries.
International Organization for Migration (IOM) brings a mobility lens to climate vulnerability and is supporting the launch of a migration pillar under the V20 Loss and Damage Funding Program, alongside innovative finance solutions linking climate, debt, and migration.
Office of the United Nations High Commissioner for Human Rights (OHCHR) supports the mandate of the UN Special Rapporteur on Human Rights and Climate Change and works to integrate a human rights lens into Climate Prosperity Plans.
United Nations University Institute for Environment and Human Security (UNU-EHS) translates Climate Vulnerability Monitor 3 findings into compelling narratives and real-world insights to build a wider understanding of climate risks and solutions.
United Nations University Vice-Rectorate in Europe (UNU-ViE) supports the V20 finance ministers’ platform, advancing a more resilient global financial architecture and driving international cooperation for development-positive climate action.
Past
Global Center on Adaptation (GCA) served as the JMDF’s technical secretariat until February 2024, working closely with project partners to provide advice and support for key CVF-V20 activities during the Fund’s early development.
International Renewable Energy Agency (IRENA) supported the CVF–V20 member countries in scaling up their renewable energy ambitions by helping shape the 100% Renewable Energy target and enhancing Climate Prosperity Plans with energy transition scenario analysis.
United Nations Institute for Training and Research (UNITAR) designed and delivered a Climate Diplomacy Fellowship, equipping fellows from CVF–V20 countries with advanced negotiation skills and global networking opportunities.
DONORS
Currently
The People’s Republic of Bangladesh:
USD 100,000
The Federal Republic of Germany:
USD 5,525,264
The Republic of the Marshall Islands:
USD 30,000
The Government of Wallonia:
USD 5,170,427 (for the V20 L&D Funding Program)
Quadrature Climate Foundation:
USD 3,000,000
Sequoia Climate Foundation:
USD 3,000,000
Wellspring Philanthropic Fund:
USD 1,000,000
KEY CONTACTS
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