Above: screenshot from the joint workshop on March 25, 2021.
On March 25th, 2021, the Coalition of Finance Ministers for Climate Action organized a high-level workshop on green budgeting in co-operation with the OECD Paris Collaborative. Green budgeting is a key priority area on the Coalition’s agenda, and this is the third joint green budgeting event since the Coalition’s inception. The work builds on the various findings and discussions that have taken place at previous workshops and the efforts of the Institutional Partners (e.g. OECD, WB, IMF, UNDP), and provides a way forward for the Coalition’s work and all its member countries.
The first session highlighted the latest developments on green budgeting, including the results from the 2020 OECD and European Commission – Joint Survey on Emerging Green Budgeting Practices. This was followed by a presentation to emphasize the importance of green recoveries and how green budget tagging can help identify relevant investments for long-term climate and environment objectives. The second session focused on the importance of macro-economic modelling in providing an analytical basis for policy designs and the assessment of economic, environmental, and climate effects. The third and final session looked at how countries can use different sets of approaches to build resilience to address national and global commitments, including Nationally Determined Contributions (NDCs), with highlights from Colombia and Grenada.
- Session 1: Latest Developments in Green Budgeting - Andrew Park (OECD)
- Session 2: The OECD Green Recovery Database - Andrew Prag (OECD)
- Session 2: Denmark Presentation - Mads Dalum Libergren (Denmark Ministry of Finance)
- Session 3: Grenada Presentation - Kelvin George (Grenada)
- Session 3: Colombia Presentation - Leonardo Buitrago (Colombia Ministry of Finance)
- Session 3: Climate Change Mainstreaming in Planning and Budgeting - Tom Beloe (UNDP)
- Green Budgeting in OECD Countries
- Integrating Climate into Macroeconomic Modelling: Drawing in the Danish Experience