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Global Shield Plan
November 19 , 2022
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- A G7-led plan called Global Shield was launched at the U.N. COP27 summit held at Egypt.
- It is a funding mechanism that provides funding to countries suffering climate disasters.
- It aims to complement, not replace, the progress on ‘loss and damage’.
- Pakistan will be among the first recipients of funding from the G7 ‘Global Shield’ initiative.
- The Group of 7 (G7) and the V20 group of climate-vulnerable countries are the coordinators to this plan.
- The Vulnerable Twenty (V20) Group of Ministers of Finance of the Climate Vulnerable Forum (CVF) is a dedicated cooperation initiative of economies systemically vulnerable to climate change.
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