HP4 Hosts Roundtable Discussion on Fiscal Policy and Practice Report
Author: Coalition Secretariat
The Coalition of Finance Ministers for Climate Action hosted a roundtable discussion around the recently published Helsinki Principle 4 report, “Driving Climate Action through Economic and Fiscal Policy and Practice”, prepared under the leadership of U.S.A. and Denmark. The event highlighted the importance of robust action towards mainstreaming climate into economic and financial policies —and the potential consequences of inaction—by ministries of finance.
HP5 Workshop Discusses Findings of Nature-Related Risks Report
Author: Coalition Secretariat
On June 7, the Helsinki Principle 5 (HP5) workstream hosted a workshop to discuss the findings from the recently published Coalition report, An Overview of Nature-Related Risks and Potential Policy Actions for Ministries of Finance: Bending The Curve of Nature Loss. The publication of this report is an important step to help Coalition Members better understand nature-related risks and possible fiscal implications, as well as to initiate a discussion about policy challenges and how to best address them.
HP5 Publishes Report on Nature-Related Risks for Finance Ministries
Author: Coalition Secretariat
Following the publication of the 2021 Coalition report on climate-related risks, the Coalition deemed it crucial to produce a report on nature-related risks. This report focuses on economic and financial risks of nature loss, particularly those with fiscal implications. A range of potential policy options is presented, which could help MoFs manage nature-related risks. The report is an important step to help Coalition Members better understand nature-related risks and possible fiscal implications, as well as to initiate a discussion about policy challenges and how to best address them.
HP1 Publishes Report on Scoping the Fiscal Impacts of Long-Term Climate Strategies
Author: Coalition Secretariat
The Coalition of Finance Ministers for Climate Action has published a new report under the Helsinki Principle 1 workstream (aligning policies with the Paris Agreement), titled "How to Scope the Fiscal Impacts of Long-Term Climate Strategies? A Review of Current Methods and Processes". By reviewing the leading fiscal modeling methods, approaches, and processes, this report provides a comprehensive guide for policymakers on how to best identify and quantify the potential fiscal impacts of various policies designed to address climate change and reach net zero targets.
HP5 Stakeholder Dialogue on Corporate Sustainability Reporting - Updates from the ISSB and TNFD
Author: Coalition Secretariat
On Thursday April 14, 2022, the Coalition hosted representatives from the International Financial Reporting Standards (IFRS) Foundation’s International Sustainability Standards Board (ISSB) and the Taskforce on Nature-related Financial Disclosures (TNFD) to get an update on the respective standards or framework each is developing. This session built on previous discussions the Principle 5 workstream has organized on the topic of corporate sustainability reporting.
HP4 Publishes Report on Driving Climate Action through Economic and Fiscal Policy and Practice
Author: Coalition Secretariat
The Helsinki Principle 4 workstream has published a new report, "Driving Climate Action through Economic and Fiscal Policy and Practice". The report draws on experiences and practices from member countries and includes a curated list of frameworks, guidance, and tools to support ministries of finance in mainstreaming climate change in economic and fiscal policy and practice.
Coalition Puts Forward its Work Programme for 2022
Author: Coalition Secretariat
The 2022 Work Programme of the Coalition of Finance Ministers for Climate Action outlines the main priorities and planned activities under each Helsinki Principle workstream and key cross-cutting themes.
HP4 and HP5 Host Joint Workshop on Sovereign Climate and Nature Risks and Opportunities Reporting
Author: Coalition Secretariat
On February 10, 2022, the Helsinki Principle 4 and Principle 5 workstreams hosted a workshop to discuss whether it is time for a sovereign climate and nature risks and opportunities reporting framework. Nearly 100 participants tuned in to listen and discuss the relevance of this topic for their Ministries of Finance (MoFs) and for the Coalition overall.
HP2 Publishes Report on Mainstreaming Climate Action in Ministries of Finance
Author: Coalition Secretariat
The Helsinki Principle 2 workstream has published a new report, Strategies for Mainstreaming Climate Action in Ministries of Finance: Governance, Capacities, and Research Practices. The report assesses the current situation in Finance Ministries in addressing climate change and mainstreaming climate action, explores the concrete steps needed for increased climate mainstreaming, and provides findings on actions by MoFs and the role of the Coalition to take this agenda forward.
HP5 Stakeholder Dialogue with Credit Rating Agencies on How Climate Criteria Are Being Integrated into Sovereign Ratings
Author: Coalition Secretariat
In this stakeholder dialogue, Coalition members learned about the approaches of credit rating agencies in assessing climate-related risks. The dialogue supported the work of both Helsinki Principle 5 (mobilizing finance and greening financial systems) and Principle 4 (economic policies and public financial management).