16th Ministerial Meeting of the Coalition of Finance Ministers for Climate Action
Preserving Macroeconomic Stability and Financing Resilience and the Green Transition in the Face of Energy Price Shocks
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15th Ministerial Meeting of the Coalition of Finance Ministers for Climate Action
Climate Action as an Engine of Growth, Jobs and Competitiveness
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Leveraging Opportunities of the Transition and Strengthening Resilience for Sustainable Growth, Jobs, and Energy Security
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Coalition of Finance Minister events, reports, tools, and highlights
The Coalition is dedicated to providing insightful news updates on global efforts and progress in country domestic climate action we support
The first Action Areas of the updated Flagship Guide are now open for consultation.
Coalition members and other interested stakeholders are invited to review the drafts and share their feedback, country experience, and implementation lessons to help make the final Guide as practical and useful as possible for Ministries of Finance.
Contribute through the consultation form
Explore the consultation draft on the interactive website and share your feedback
Consultation until 30 November 2026
The Network for Greening the Financial System (NGFS) and the Coalition of Finance Ministers for Climate Action (CFMCA) have launched a new joint dialogue platform to deepen knowledge sharing between central banks and finance ministries on the macroeconomic dimensions of climate change and the transition to a low-carbon economy.
Check the previous and upcoming joint events here.
The Coalition’s program in Bangkok brings together ministerial leadership, regional and technical dialogue, and practical exchanges on climate and economic policy and reflects its growing focus on implementation, peer exchange and strengthening the role of Finance Ministries in climate action.
Read our main outcomes:
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About the Coalition
Finance Ministers hold the keys to accelerating climate action. They are most clearly aware of the risks posed by climate change and recognize how taking action could unlock trillions in investments and create millions of jobs by 2030.
The Coalition of Finance Ministers for Climate Action brings together fiscal and economic policymakers from over 100 countries to lead the global climate response and secure a just transition towards low-carbon, resilient development.
Thematic Priorities
Coalition's workstreams 2026-2028
Economic Analysis for Green and Resilient Transitions
Economic Analysis for Green and Resilient Transitions (cross-cutting working group)
Task Group: Updating the Flagship Guide
Task Group: Updating the Flagship Guide
Thematic Priority 1: Driving a coordinated whole-of-economy transformation
Driving a coordinated whole-of-economy transformation
Thematic Priority 2: Strengthening macro-fiscal climate policy and debt sustainability
Strengthening macro-fiscal climate policy and debt sustainability
Thematic Priority 3: Accelerating decarbonization through fiscal instruments
Work towards measures that result in effective carbon pricing
Thematic Priority 4: Mobilizing private finance for mitigation, transition, and adaptation
Mobilizing private finance for mitigation, transition, and adaptation
Thematic Priority 5: Planning, managing, and financing adaptation, resilience, and nature
Planning, managing, and financing adaptation, resilience, and nature
103 Member Countries
Member Countries
Events
View recent and upcoming Coalition events, including workshops, webinars and meetings
Bundesministerium für Finanzen: Forum Finanz - Presenting the Guide
September 28, 2023
The Coalition was proud to present the flagship guide at the Austrian Ministry of Finance on Monday the 18th of September 2023, as part of their Forum Finanz event series. We learned that the Austrian Ministry of Finance, alongside other departments, has coordinated and taken a number of important actions to mainstream climate change into their operations. These actions include:
- Austria has targeted net zero by 2040, one decade before the rest of the EU.
- No new coal investments.
- 100% renewable energy by 2030.
- Further implementing the pricing of CO2 emissions within the framework of the national ETS, conducted in gradual manner, whilst preparing for the implementation of EU ETS 2, an ongoing process of interdepartmental cooperation will be intensified.
- Expanding the green Budget screening methodology to the regional and sub- national levels through spending review and integrating greenhouse gas estimates in the green budgeting framework.
- Eco-Social Tax Reform 2022- aims at strengthening social inclusion and combating climate change, thus contributing to expected annual greenhouse gas emission savings of 2.6 million tons by 2030 compared to the baseline-scenario. To reach such objectives, the reform introduces a national CO2 price on fossil energy sources(starting at € 30 in 2022 and to be gradually lifted to € 55 in 2025, followed by market-based price formation from 2026 onwards), and a tax relief worth of € 18 billion by 2025 for people and businesses, comprising i.a. lower personal and corporate income tax rates, a higher “Family Bonus Plus” and relief measures for low-income households. A “Regional Climate Bonus” serves to mitigate the impact of carbon pricing on individuals.
- Financial sector reform – by expanding “Green Financial literacy”, strengthening of green project financing, issuing of green bonds and securities and measurement and monitoring of climate-friendly financial flows.
- Implementing recovery and resilience plan, which includes a spending reviews analysis of the subsidies and incentives with climate and energy policy.
Director General Harald Waiglein, Directorate of Economic Policy and Financial Markets at the Austrian Ministry of Finance opened the proceedings, before handing over to Coalition-Sherpa for Austria, Elisabeth Vitzthum to chair the event.
Pekka Morén, special representative for the Ministry of Finance of Finland and country champion of the Coalition’s Helsinki Principle 2 workstream, then introduced the flagship guide. Technical experts and lead Institutional Partner in producing the flagship guide, Nick Godfrey and Anika Heckwolf from the LSE Grantham Institute, gave a technical presentation of the framework offered in the guide, before Pekka Morén linked the guide to the next steps of capacity building by the Coalition (slides of the presentation are available here).
A panel discussion then followed. Director General Harald Waiglein, Anika Heckwolf, and Pekka Morén, were joined by Fabio Rumler, Head of the Department of International Economics at Oesterreichische Nationalbank and Frank van Lerven, Coordinator at the Coalition’s Secretariat and lead of C3As debt sustainability hub.