The greening of the Belt and Road Initiative presents an opportunity to leverage China’s manufacturing capacity and its development strategies to advance the energy security and energy affordability in climate-vulnerable developing countries. For V20 members, this presents an opportunity to crowd in non-debt creating investments through joint ventures and special purpose vehicles, among others, ultimately grounded in and driven by South-South cooperation.

Member States of the International Maritime Organization (IMO), including numerous Climate Vulnerable Forum (CVF) members, have been actively involved in negotiations to decarbonize the activities of the international shipping sector during the past decade.

A return to the etymology of the word catastrophe-a ‘reversal’ and an ‘overturning’-may prove salutary if it reminds global financial institutions today of the need for policy overhaul given recent experience in the Caribbean and a global future increasingly dominated by climate chaos.

Providing concessional financing e.g., through premium and capital support (PCS), specifically in the context of climate and disaster risk insurance (CDRI), is now being discussed globally as an important tool to enable and encourage the use of CDRFI by directly or indirectly reducing the costs to beneficiaries. Given the current fragmentation and rather arbitrary, ad-hoc and non-transparent provision of PCS to individual pools, governments and insurance schemes, the development of a reliable, rules-based provision of PCS and a coordinated and transparent delivery structure is key to increase the uptake of CDRFI in light of constrained financial resources and competing development priorities.