This workshop informed members on the developments in the above disclosure requirements, what these standards would mean in practice, and the role of Finance Ministries in implementing them at national levels.
On Tuesday, July 11, the Coalition hosted the “Green Transition Taxonomies” seminar under the Green Transition workstream. Speakers highlighted the relevance of taxonomies to follow overarching guiding principles, while recognizing differences in national priorities (e.g., NDCs) and limitations (e.g., affordability) that translate into different decarbonization starting points and trajectories.
This webinar is co-organized with UNDP and UNEP, institutional partners of the Coalition of Finance Ministers for Climate Action and is the first of a two-part webinar series focusing on adaptation planning and financing. Whole-of-government approaches to adaptation planning and financing strategies and the role of finance ministries in the development and implementation of NAPs and NDCs as relates to climate adaptation were presented during the session along with shared experiences of Ministries of Finance and Economy through an interactive panel discussion.
Nature workshop: What the Global Biodiversity Framework Means for Finance Ministries and Central Banks
This workshop examined what the Global Biodiversity Targets (GBF) means for the financial sector, particularly the Ministries of Finance and the Central Banks, as well as highlighted how Coalition members - Chile, Finland, France, Mexico, Uganda, and the UK - integrate nature in their agendas.
On June 22nd, an official side event of the Paris Summit was jointly organized by the Coalition and the C3A program, titled “Leveraging Capacities for Finance Ministries on Climate Action”, which featured a panel discussion by Co-Chairs Sherpas Masyita Crystallin and Ralien Bekkers, Juergen Voegele (World Bank), Amar Bhattacharya (Brookings), Fatima Denton (UNU-INRA), Tom Heller (CPI), and Morgan Despres (ECF/NGFS).
Global Event | From Guide to Action: Strengthening the Role of Ministries of Finance in Driving Climate Action
To help Ministries of Finance to mainstream climate action into their core functions and capabilities, the Coalition recently launched a flagship guide for Ministries and Ministers of Finance, ‘Strengthening the Role of Ministries of Finance in Driving Climate Action’. Based on over 140 inspiring country case studies of climate action, the guide offers concrete steps for Ministries of Finance to strengthen their role in driving the transition to a zero-carbon, climate-resilient economy. It shows that in taking bold climate action, Ministries of Finance can tackle escalating risks, achieve macro stability, enhance resilience, create growth and development opportunities, and deliver clean, secure and affordable energy.
The kickoff meeting of the Green Transition workstream was held on May 23, 2023 with over 40 Coalition members and counted with the valuable participation of participants, whose corroborated the proposed concept note and activities for 2023.
The purpose of this workshop is to showcase and update member countries on the latest work on nature by leading Institutional Partners of the Coalition. We also aim to facilitate interactive discussions whereby partners can learn about the needs and demands from member countries.
The Coalition of Finance Ministers for Climate Action gathered for its 9th Ministerial Meeting on April 14, 2023, chaired jointly by Sri Mulyani Indrawati, Minister of Finance of Indonesia, Sigrid Kaag, Minister of Finance of The Netherlands, and Pekka Moren, Special Representative of the Minister of Finance of Finland.
HP5 Workshop - Net Zero Data Public Utility (NZDPU), its relevance to MoFs, and challenges with respect to private sector commitment tracking
The purpose of the workshop was to present the NZDPU to Coalition Members by highlighting the key issues it tries to address - greater private sector data transparency, comparability and free data access, better ability of policymakers to track the progress made with the transition and factor in climate aspects into their decision-making, among others – and discuss how countries can support making the platform a success. In addition, the OECD will delve deeper into how future work could build on the NZDPU and into key aspects for MoFs to consider when assessing and tracking financial institution commitments.