A financial sector that incorporates risks and opportunities resulting from climate change will enhance investment decisions and increase the flow of finance. The goal under Helsinki Principle 5 is to develop tools for mobilizing private sector financing, share experience, support international standard setting, and share best practice among Members.

Members can be instrumental in mobilizing private sources of finance toward climate action in their capacity as Finance Ministers, and by complementing Central Banks and market regulators. Mindful of the different stages of financial market development and positions of Members, key actions and deliverables under Helsinki Principle 5 include:

  • Supporting the preparation of national financial strategies / roadmaps for greening finance.
  • Exploring approaches to encourage financial institutions to align their practices with the NDCs and the goals of the Paris agreement.
  • Sharing experience on the issuance of green bonds and use of other financial instruments.
  • Identifying strategies to incorporate climate risks and opportunities into investment decisions, such as supporting global efforts for transparency and disclosure of climate-related financial risks and impacts, identifying risks to financial stability posed by climate change, and considering ways to manage these risks. Institutional Partners are undertaking stress tests on climate related risks and developing tools for supervisors that will also help Members manage risk.
  • Identifying measures to address the issue of high cost of capital for adaptation and mitigation investments in developing countries.
  • Supporting the efforts of multilateral development banks in mobilizing climate finance, and accelerating the dissemination of international best practices.


Country Leads

lux flag Luxemburg
mexican flag Mexico
Switzerland flag Switzerland
UK flag United Kingdom


Member Countries

Argentina, Australia, Bangladesh, Canada, Chile, Croatia, Finland, France, Germany, Italy, Morocco, Netherlands, Philippines, Singapore, Uganda

Actively Engaged Partners

  • Brookings
  • C3A
  • European Bank for Reconstruction and Development
  • European Investment Bank
  • International Monetary Fund
  • Network for Greening the Financial System
  • Nordic Investment Bank
  • World Bank Group


Priority Policy Areas for 2024-2025

  • Leveraging greater private finance - via providing better enabling conditions, strengthening inter-ministerial collaboration, enhancing projects bankability and broadening investors base, as well as using blended finance instruments and green, sustainability and other climate-related bonds. Greening private climate finance, including developments in reporting, data and disclosure.
  • Work on voluntary carbon markets and potentially biodiversity carbon markets.


Recent Publications