HP6 Publishes Report on MoFs and NDCs: Raising Ambition and Accelerating Climate Action
Author: Coalition Secretariat
The Helsinki Principle 6 workstream has published its second report for the Coalition, Ministries of Finance and Nationally Determined Contributions: Raising Ambition and Accelerating Climate Action. The report details the status of work towards Helsinki Principle 6, explores the enhanced engagement of Ministers of Finance in NDC formulation, and examines how they can best contribute to successful outcomes aligned with the Paris Agreement through leadership and coordination with other sectors.
HP5 Publishes Report on Supporting Private Sector Net Zero Targets
Author: Coalition Secretariat
The private finance sector is critical to supporting net zero-aligned change in the real economy, contributing to meeting the global climate goals that governments and many financial institutions have committed to, and reducing climate change-related risks. Ministries of Finance are well-positioned to support the private sector on this path. HP5 has produced a report discussing various soft and regulatory power methods to improve the understanding of commitments, progress, risks, and opportunities domestically, which can also be used to set expectations for best practices internationally.
Coalition and WMO Co-Host COP27 Panel Discussion on Climate Data Gaps
Author: Coalition Secretariat
This event brought the finance ministry and climate-science communities together for the first time at a COP to discuss the urgency of closing the weather and climate data gaps and how Ministers of Finance can support this endeavor, as well as how climate data can be used by finance ministries to create more effective economic policies.
Coalition Meets During COP27
Author: Coalition Secretariat
The Coalition of Finance Ministers for Climate Action met on November 9 during the UNFCCC COP27 conference in Sharm el-Sheikh, Egypt. The meeting—one of the central events of Finance Day at COP27—brought together Finance Ministers, heads of international organizations, and other senior officials to discuss how finance ministries can help their countries adapt to the increasingly costly impacts of climate change.
Launch of Consultation Process on the Role of Finance Ministers in Climate Action
Author: Coalition Secretariat
The Coalition has launched a consultation process to obtain feedback on the draft of a forthcoming landmark report: Strengthening the Role of Ministries of Finance in Driving Climate Action.
Märt Kivine appointed as the new Secretary of the Coalition of Finance Ministers for Climate Action
Author: Coalition Secretariat
Märt Kivine has been appointed as the new Secretary of the Coalition of Finance Ministers for Climate Action. Mr. Kivine joins the Coalition Secretariat from the European Bank of Reconstruction and Development, where he served as a Board member. Prior to this assignment, Mr. Kivine worked in the Development Economics Vice Presidency and in the Nordic and Baltic Executive Director’s office at the World Bank.
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.