From the national to the international: Policymaking for climate prosperity and global financial architecture reform

Join us for a high-level panel on the sidelines of the 2024 International Monetary Fund/World Bank Group Spring Meetings with speakers from the V20 Climate Prosperity Fellowship Program, Rockefeller Foundation, the World Bank and US Department of the Treasury.

While calls for reform of the global financial architecture have gained significant momentum – from the Bridgetown Initiative to the World Bank Evolution Roadmap – concerns remain over whether these institutions or global fora, such as the Group of 20 (G20), can deliver on the depth and breadth of reform needed to drive investment to meet shared climate and development goals.

To that end, country-owned initiatives, such as Climate Prosperity Plans under the Vulnerable 20 (V20) Ministers of Finance, are emerging to fill the gap. The V20 Climate Prosperity Fellowship Program, in partnership with the V20, the Boston University Global Development Policy Center and the Centre for Sustainable Finance at SOAS University of London, seeks to advance cooperation and engagement of officials from V20 member countries, donor countries, international institutions and philanthropy to address the challenges posed by an unfit-for-purpose global financial architecture and catalyze ambitious development-positive climate action through Climate Prosperity Plans.

What role can domestic policymaking play in pushing the needle on global architecture reform? How can conversations on reforming the international financial architecture be better linked with national-level policy change? What obstacles are country governments facing in advancing nationally led initiatives and how can the international institutions and other providers of climate finance support them to surmount these?

Header image credit: Andy He via Unsplash.