The Coalition of Finance Ministers is launching a new webinar series under HP3 to explore the design, implementation and impact of carbon border adjustments (BCAs), i.e. charges on embodied carbon in imports. While carbon pricing policies are widely acknowledged as a powerful tool in realigning economic incentives and reducing emissions, they often raise questions around competitiveness and carbon leakage. BCAs can help to address these issues. However, while BCAs may be conceptually widely supported, in practical terms, they present a largely unchartered and emerging area of policy practice. Countries seeking to enact BCAs face complex trade-offs in design and implementation, while trading partners are increasingly looking to understand the impact of BCAs on their own economies and how best to adjust and adapt. This webinar series is particularly timely given the recent implementation of the first BCA by the European Union in January 2026, and given that the topic of BCAs can be expected to feature prominently during the UNFCCC's trade-related discussions in 2026. About the Series Objectives
Please note that the series intended to provide a forum for practical and technical discussion, and will not facilitate or engage in negotiations. Series Structure
Provisional seminar dates are as follows:
If you would like to contribute to this series, please email Alpa Shah (supporting Institutional Partner) at ashah@imf.org. |
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
Read the two-page summary for policymakers.
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:
And follow us on LinkedIn for daily updates.
Thematic Priorities
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 100 countries to lead the global climate response and secure a just transition towards low-carbon, resilient development.
104 Member Countries
Member Countries
Launch of a webinar series on Border Carbon Adjustments (BCAs)
March 11, 2026
Launch of Driving a coordinated whole-of-economy transformation workstream (TP1)
June 29, 2026
The Coalition of Finance Ministers for Climate Action convened during the London Climate Action Week to formally launch the Thematic Priority 1 workstream of its 2026–2028 strategic work program: From Commitments to Action - Driving a Coordinated Whole-of-Economy Transformation. The event brought together finance ministry officials from Uganda, Spain, Australia, Denmark, Finland, and Croatia to address a long-standing challenge for policymakers: the persistent lack of coordination in translating climate policies and strategies into concrete and effective action.
Three Key Takeaways
1. Finance ministries are key actors in whole-of-economy transformation - as coordinators and risk managers. A whole-of-economy transformation cannot be driven solely by the environment or line ministries. It demands the institutional authority, fiscal tools, regulatory levers, and cross-government reach that only finance ministries possess. Their role spans setting macroeconomic frameworks, allocating public investment, creating incentives, and managing the risks posed by climate change. From stranded assets and transition shocks to cross-border carbon fees and the mounting costs of extreme weather events, climate risk is a macro critical issue. Finance ministries are the custodians of this exposure, and their early engagement in climate planning is essential to ensuring that national strategies are not only ambitious but also economically sound and fiscally sustainable.
2. Coordination must be institutionalized and built on what already exists. Driving a coordinated transformation across an entire economy requires more than political will; it requires sustainable institutional structures. Effective coordination must work horizontally, across different line ministries and vertically, between national governments and the subnational authorities responsible for delivery on the ground. Critically, each country arrives at this challenge with its own institutional history, existing tools, and sectoral frameworks. Finance ministries should leverage and integrate what line ministries have already built, not duplicate it. Countries shared how they have done so by embedding climate into budget cycles, establishing Climate Finance Units as the connective tissue between sectoral action and national fiscal planning, and moving from isolated project spending to integrated, program-based approaches.
3. Finance ministries must own the climate narrative, not just the purse strings. For whole-of-economy transformation to work, finance ministries must actively shape how climate action is framed: as a structural economic opportunity. Country Climate and Development Reports (CCDRs) are a powerful tool in this regard, linking climate objectives to growth trajectories and investment opportunities in language that resonates across government. Finance ministries that engage early, set realistic budgets, assess and manage risks and champion cross-sectoral investment pipelines are better placed to build the political coalitions that whole-of-economy transformation demands and to ensure that the transition works for every part of the economy.
What Comes Next
The TP1 launch event was the beginning of a conversation, not an endpoint. In the months ahead, the workstream will deliver a series of webinars on CCDRs and Climate Finance Units, sharing practical evidence on how to establish and sustain them across different country contexts. Peer exchange events will carry the conversation forward, with a focus on practical, replicable solutions. Participants also committed to continuing the conversation on closing coordination gaps in climate policy execution, integrating climate into budget processes, developing real-time expenditure tracking tools, and replacing fragmented project spending with program-based frameworks. International collaboration was identified as essential: no country can build the analytical capacity and institutional knowledge needed for whole-of-economy transformation alone. Participants called for deeper international cooperation on macroeconomic modeling and greater support for Least Developed Countries, which face the steepest barriers to accessing climate finance and technical assistance.
As TP1 workstream moves to implementation, the Coalition of Finance Ministers for Climate Action will convene member countries, facilitate knowledge exchange, and develop practical guidance for finance ministries to translate climate commitments into coordinated fiscal action.
First European Regional Meeting of the Coalition of Finance Ministers for Climate Action
February 04, 2026
From 1-3 December 2025 in Luxembourg, nearly 50 participants from European member countries and institutional partners came together to strengthen collaboration on climate-related financial and economic priorities.
Key takeaways from our discussions:
Members reflected on 2025’s major developments – from COP30 outcomes to evolving climate finance discussions – and outlined priorities for 2026.
Countries shared progress on sustainable finance regulations and explored opportunities for transition finance and enhanced international collaboration.
We examined how rising defense expenditures intersect with climate commitments, identifying synergies for resilience and energy security.
Finance ministries discussed their role in delivering the updated NDCs and strategies to overcome financial and institutional barriers.
We discussed the forthcoming update of the Coalition’s Flagship Guide by COP31 to create stronger links with industrial policy, trade, and competitiveness, and integrate nature, biodiversity, adaptation, and resilience.
This meeting marked a significant step in enhancing member engagement, sharing Europe-specific insights, and shaping the Coalition’s work for 2026 and beyond.
Africa’s Finance Ministers Launch Pan-African Forum to Drive Climate-Responsive Economic Transformation
February 04, 2026
From 16–18 December 2025, the Coalition of Finance Ministers for Climate Action (CFMCA) brought together approximately 100 representatives from around 30 African Ministries of Finance in Lusaka to chart a new direction for climate‑economic cooperation.
The regional event concluded with the following outcomes:
- Ministers launched the African Finance Ministers’ Platform, agreed on interim leadership and a 2025–2027 Roadmap, and aligned on integrating climate and nature risks into fiscal planning and investment decisions.
- Countries advanced joint work on climate finance platforms, debt–climate linkages, carbon markets, natural capital accounting, and green jobs, and strengthened shared African positions on concessional finance, debt‑for‑climate instruments, and adaptation needs.
The meeting also secured new commitments for peer learning, technical assistance, and joint analytical work, setting a clear path toward the March 2026 Africa Finance Ministers’ Meeting. The Coalition thanks the Ministry of Finance and National Planning of Zambia, participating Ministries, and partners for their leadership and support.
Joint Dialogue Platform NFGS and Coalition
February 04, 2026
Last week, the Network for Greening the Financial System (NGFS) and the Coalition of Finance Ministers for Climate Action (CFMCA) held the first joint workshop in London, following the launch of our Joint Dialogue Platform at COP30. With over 100 participants in attendance, both online and in person, the workshop provided members with an opportunity to exchange concrete experiences, modelling practices, and emerging needs from across institutions. 
The workshop focused on three core areas:
• Physical climate risk assessment: aligning approaches across central banks and finance ministries
• Macroeconomic policy design under climate shocks: from growth and inflation impacts to fiscal sustainability
• Sustainable financing frameworks: strengthening tools for investment planning and transition policies
The workshop underscored a shared commitment to deepen collaboration and strengthen joint analytical work to support decision-making in both Ministries of Finance and central banks.
For those interested, the Coalition has made available a range of analytical resources for Ministries of Finance, including our searchable Compendium of Practice and NGFS contributions:
1- Main report summarizing analytical tools relevant to pressing questions MoFs face:
https://lnkd.in/epbdpauK
2- NGFS contributions to the Coalition’s searchable Compendium of Practice on analytical tools for climate action:
Macro modelling handbook:
https://lnkd.in/emq2_jDe
3- Approach to assessing physical climate risks:
https://lnkd.in/ey_7HE8K
4- Approach to assessing short-term implications of climate change:
https://lnkd.in/eyJmZzM2