Coalition Publishes Mainstreaming Paper for COP26
Author: Coalition Secretariat
On the occasion of the Coalition meeting at COP26, the Coalition published a short paper titled Mainstreaming Climate into Economic and Financial Policies. The report draws on the work of the Coalition’s six workstreams and the priorities set forth by its Members at the Ministerial meeting held on 12 October 2021, and highlights the deepening engagement of Finance Ministries on the climate change agenda.
Coalition Chairs Release Joint COP26 Statement with NGFS Chair
Author: Coalition Secretariat
The Coalition of Finance Ministers for Climate Action took center stage on Finance Day at COP26 (November 3, 2021) and showcased the crucial role Ministers of Finance have to play, working together across all regions, to keep an average global warming limit of 1.5 degrees Celsius within reach. On this occasion, the Chairs of the Coalition and the NGFS released a Chairs Joint COP26 Statement expressing support for the COP26 process and highlighting key areas where Ministries of Finance, Central Banks, and financial sector supervisors can help shift the trajectory towards net-zero.
HP5 Publishes Sustainable Finance Roadmaps Report
Author: Coalition Secretariat
The Helsinki Principle 5 Workstream has produced a report assessing a sample of roadmaps from various countries to identify commonalities and differences across them. This research was led by the UN-convened Financial Centers for Sustainability (FC4S) network, in collaboration with the World Bank, under the direction of the Coalition. The roadmaps from 30 countries have been analyzed, including the experiences of the following Coalition Member countries: Canada, Japan, Luxembourg, Mexico, Nigeria, Switzerland, Germany, and Ireland.
HP5 Hosts Workshop on the Role of Ministries of Finance in Driving ‘Resilient Investment’ and ‘Investment in Resilience’
Author: Coalition Secretariat
On October 7, 2021, the Helsinki Principle 5 workstream hosted a workshop on ‘The Role of Ministries of Finance in Driving Resilient Investment and Investment in Resilience’; the second workshop on resilience and adaptation organized by the HP5 workstream. The event provided an opportunity to discuss how Ministries of Finance (MoFs) can contribute to driving resilient investment and investment in resilience by creating the conditions for private sector finance mobilization.
HP2 Hosts Workshop on Finance Ministries’ Mainstreaming Strategies and Research Practice in Climate Action
Author: Coalition Secretariat
On Thursday, September 30, the Coalition hosted a workshop under Helsinki Principle 2 on Finance Ministries’ Mainstreaming Strategies and Research Practices in Climate Action. The virtual seminar was the second in the series of workshops, and focused on how Ministries of Finance have incorporated mainstreaming practices—plans, structures, research, training, etc.—as part of the governance and implementation of their climate strategies.
HP5 Hosts Latin America-Focused Workshop on Developing Subnational Green Bond Markets in Emerging Economies
Author: Coalition Secretariat
On September 23, 2021, the HP5 Workstream hosted a Latin America and Caribbean (LAC) focused workshop on ‘Developing Subnational Green Bond Markets in Emerging Economies: Challenges and Solutions for Ministries of Finance.’ The workshop was organized by the Inter-American Development Bank (IDB). This is the first region-focused workshop the Coalition has organized and others will soon follow.
Helsinki Principle 5 Stakeholder Dialogue with COP26 Private Finance Hub on TCFD Recommendations for Measuring Portfolio Alignment
Author: Coalition Secretariat
The aim of the report "Measuring Portfolio Alignment: Technical Supplement" is to bring more convergence and transparency to the assessment of portfolio alignment. The report authors, who are members of the COP26 Private Finance Hub, presented their findings and recommendations to Coalition Members and Institutional Partners in a stakeholder dialogue on September 9, 2021, who then had an opportunity to provide feedback and ask questions. The discussion built on previous work of the Helsinki Principle 5 workstream, which over the last year has held two workshops on measuring portfolio alignment and published a "Summary for Policymakers on Private Financial Sector Paris Alignment".
Mrs. Annika Saarikko, new Finance Minister of Finland, assumes role as Finnish Co-Chair
Author: Coalition Secretariat
Mrs. Annika Saarikko (former Minister of Science and Culture) has been appointed as the new Minister of Finance of Finland. Saarikko affirms Finland’s commitment to act as Co-Chair for the Coalition of Finance Ministers for Climate Action. “The Coalition of Finance Ministers highly appreciates the support and input given by the World Bank acting as the Coalition Secretariat in cooperation with the IMF. I look forward to co-chairing the Coalition with the Minister of Finance of Indonesia, and highly honor our joint engagement,” said Minister Saarikko.
HP2 Hosts Workshop on Finance Ministries’ Strategies, Capacities, and Research Practices
Author: Coalition Secretariat
On Wednesday, May 26, the Coalition hosted a workshop under Helsinki Principle 2 on Finance Ministries’ Strategies, Capacities, and Research Practices. The two-hour virtual seminar addressed how Ministries of Finance have incorporated climate change into their strategies, how they are addressing capacity and expertise issues related to climate change, and how research can provide guidance for economic policymaking.
Coalition Publishes New Report: Climate-Related Risks for Ministries of Finance: An Overview
Author: Coalition Secretariat
The Coalition’s Santiago Action Plan stresses the importance of incorporating climate change considerations into financial decisions and identifying risks climate change poses to financial stability. In this context, the Coalition produced this note on climate-related financial risk to raise awareness and explore risk management approaches. The findings of this note will be reviewed by Coalition Members with a view to identify policy priorities and potential areas for future work.