Achieving low carbon and climate resilient economies by mid-century requires structural economic changes. Finance Ministries wield fiscal, economic, and planning instruments to facilitate a smooth trajectory of transition and are well positioned to play a lead role in the development of long-term transition strategies that align with the aims and objectives of the Paris Agreement.
Key actions and deliverables under Helsinki Principle 1 include:
- Reviewing the existing body of long-term transition strategies in select countries, providing comparative analysis of related challenges and opportunities, and delivering country case studies.
- Examining transition implications more broadly to cover the economic impacts and opportunities on citizens, businesses, and economies in order to help inform policy actions. The effort will benefit from ongoing work of Institutional Partners in mapping out the various policy instruments for decarbonization and adaptation that are relevant to Finance Ministries.
- Costa Rica
- Finnish Innovation Fund SITRA
- Inter-American Development Bank
- World Bank