Description As governments formulate budget responses to support economic recovery following the COVID-19 crisis, there is greater momentum to include green perspectives in recovery packages. This comes with increased interest in how green budgeting can support the design and implementation of government budgets that progress climate and environmental goals. The virtual workshop discussed these issues and more, drawing on country experiences. The agenda covered:
Helsinki Principle 6 Workshop on The Role of Ministers of Finance in NDC Development, Review and Implementation
Webinar hosted by Luxembourg and the European Investment Bank.
Blended finance instruments aim to address market failures that limit private financial flows for sustainable activities. This workshop, hosted and organised by the Government of Luxembourg with support from the European Investment Bank, provided an opportunity to understand the main concepts of blended finance. The event was opened by Mr. Pierre Gramegna, Minister of Finance, Luxembourg, and Mr. Christoph Kuhn, Director for Mandate Management, the European Investment Bank, and proceeded with contributions from relevant public and private sector stakeholders.
The OECD and the Coalition of Finance Ministers for Climate Action held a virtual workshop on The Political Economy of Carbon Pricing Post Covid-19’, organised in co-operation with IMF and World Bank. This event occurred on 22 June, 8-10 am EDT/2-4 pm CEST and 23 June, 6.30am-12pm EDT/12.30-6 pm CEST.
There is increasing international recognition of the need to integrate climate change and environmental considerations into mainstream financial decision-making. Better access to climate-related information can enhance how climate risks are assessed, priced, and managed. However, implementing requirements around climate-related financial disclosure brings with it technical and political challenges.
The PEFA Framework aims at assessing and reporting on the strengths and challenges of public financial management (PFM) using quantitative indicators to measure performance. Since its launch in 2005, the PEFA framework has been used for 640 assessments in 152 countries and is widely recognized as the most commonly accepted PFM assessment tool.
The Virtual Meeting on Green Budgeting built on preliminary discussions at the second meeting of the Green Budgeting Expert Group held under the auspices of the Paris Collaborative on Green Budgeting (PCGB) on 29 April 2019.