The Vulnerable Twenty (V20) Group of Ministers of Finance of the Climate Vulnerable Forum is a dedicated cooperation initiative of economies systemically vulnerable to climate change.

Value chain

The full range of processes or activities a company carries out to create value.

Value Reporting Foundation (VRF)

A global non-profit organisation that offers a comprehensive suite of resources designed to help businesses and investors develop a shared understanding of enterprise value.

Values Fit

The connection of shared goals rather than viewpoints or background.

Values-based investing

Investing that prioritises an investor’s ethical objectives, rather than simply maximising financial returns.

Values-first investing

A form of impact investing, also known as ethical investing, responsible investing or socially responsible investing.

Venture Philanthropy

An approach to investing whereby a grant-maker or social investor provides financial and organisational support to a social purpose organisation in order to support the development of an innovative solution to social or environmental problems.

Vessel Days Scheme

A scheme where vessel owners can purchase and trade days fishing at sea in places subject to the Parties to the Nauru Agreement (PNA).

Vienna Convention for the Protection of the Ozone Layer, Vienna, 1985, including the Montreal Protocol on Substances that Deplete the Ozone Layer, Montreal, 1987

See: Montreal Protocol.

Vienna Convention on Civil Liability for Nuclear Damage, Vienna, 1963

A treaty that governs issues of liability in cases of nuclear accident.

Vigeo Eiris

Vigeo Eiris provides environmental, social and governance (ESG) research, ratings and data to institutional investors and companies

Virgin inflow

In the context of a circular economy, primary resource inflows that have not previously been used or consumed.

Vision 2050

The WBCSD’s report which maps a pathway leading to a global population of nine billion people living well, within the resource limits of the planet by 2050.

Voluntary Carbon Market (VCM)

A decentralised market where private actors voluntarily buy and sell carbon credits that represent certified removals or reductions of greenhouse gases (GHGs) in the atmosphere.

Voluntary Carbon Markets Integrity Initiative (VCMI)

A multi-stakeholder platform to drive credible, net-zero aligned participation in voluntary carbon markets.


The degree to which a system is susceptible to, or unable to cope with, adverse effects of climate change.