April 14, 2022


The Helsinki Principle 4 workstream has published a new report, Driving Climate Action through Economic and Fiscal Policy and Practice.

View/download the report

Mainstreaming measures to halt climate change and mitigate its impacts in policy planning, budgeting, public investment management, and public procurement is essential to effective action. Countries have made progress in these areas, building on robust, evidence-based planning and financial management systems.

The Coalition of Finance Ministers for Climate Action recognizes the critical role of ministries of finance in responding to climate change and its causes and impacts. This report highlights the importance of robust action—and the potential consequences of inaction—by ministries of finance. It outlines five key areas to help ministers of finance take leadership on climate change: macroeconomic modeling, climate-informed fiscal risk assessment, green budgeting, public investment and asset management, and green public procurement. 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.