The Coalition of Finance Ministers for Climate Action 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: A Framework and Guide for Ministers and Ministries of Finance.
At COP27 the Coalition agreed to launch a global public consultation on the role of Ministries of Finance in driving climate action in recognition that they possess critical tools to do this—through economic, fiscal and financial policies—but these are not being sufficiently utilized. Nor is their role in climate action sufficiently understood, recognized, empowered, or operationalized, meaning they often lack the full capability and expertise to drive climate action at the speed and scale required, including by collaborating across government and with other actors.
The guide details the role Ministries of Finance can take in driving climate action, which we hope will benefit Finance Ministers, governments, and actors across the private and third sectors who work closely with them. The aim is not for the guide to be prescriptive, but to provide a comprehensive ‘menu of options’ to help Ministries of Finance to mainstream climate action within their core functions and capabilities.
The Co-Chairs would very much welcome and value views on this consultation draft before moving to finalisation in early 2023.
This is part of a collaborative effort involving more than 30 contributors, including Coalition member countries, an expert advisory group, institutional partners, and other experts.
The Coalition aims to publish the report in April 2023.
The report will be released in three formats. The consultation drafts of each of these is below:
- Summary for Ministers and Policymakers (7 pages)
- Synthesis Report (approx. 50 pages)
- Full Report (approx. 200 pages)
The Coalition is seeking feedback from the following groups:
- Ministries of Finance (Members and Non-Members of the Coalition)
- International and domestic organizations that support finance ministries
- Central banks and financial supervisors
- The private sector
- Civil society organizations and academic and research institutes
- Other relevant groups
We request that feedback is provided via this webform. Alternatively, feedback can be emailed to coalitionsecretariat@financeministersforclimate.org.
The consultation period will run from Wednesday, November 9, 2022, until Friday, February 3, 2023.
Please note: The summary and synthesis were updated on December 14 to reflect changes made to the full report.