The Public Expenditure and Financial Accountability (PEFA) program was initiated in 2001 and provides a framework for assessing and reporting on the strengths and weaknesses of public financial management (PFM) using quantitative indicators to measure performance. The methodology draws on international standards and good practices on crucial aspects of PFM. When conducted, the assessments provide the basis for dialogue on PFM reform strategies and priorities. In 2020, PEFA released a supplementary framework, focusing on the extent to which a country’s PFM system is responsive to climate change. The PEFA Climate Framework was subsequently piloted in 20 countries.
In collaboration with the Helsinki Principle 4 workstream, the PEFA Secretariat presented the updated Climate PEFA framework to member countries and institutional partners on March 7, 2024. During the workshop, member countries and institutional partners discussed the updated framework while also seeking clarification from the PEFA Secretariat on specific climate-related terms in the framework; the process of undertaking a PEFA Climate assessment, including who to contact and where to start; and differences between PEFA Climate and other climate-related assessments such as C-PIMA (Climate Public Investment Management Assessment).