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.
Coalition Hosts Stakeholder Dialogue with Mark Carney, UN Special Envoy on Climate Action and Finance
Author: Coalition Secretariat
On May 18, the Coalition hosted a stakeholder dialogue with Mark Carney (UN Special Envoy on Climate Action and Finance; Special Advisor for COP26; Vice Chair at Brookfield Asset Management; and former Governor of the Bank of England and Bank of Canada). Mr. Carney shared some of the key messages from his forthcoming book, Value(s): Building a Better World for All.
HP5 Hosts Workshop on Commitments and Measurement Methods for Private Financial Sector Paris Alignment
Author: Coalition Secretariat
On Monday May 10, the Coalition hosted a workshop on Commitments and Measurement Methods for Private Sector Portfolio Alignment with the Paris Agreement. In the workshop, the findings from a recently finalized Coalition report were presented. The report summary suggests that Ministries of Finance and central banks, as well as international bodies such as the Coalition, have a role to play in fostering robust climate alignment initiatives and methodologies.
Coalition publishes Summary for Policymakers on Private Financial Sector Paris Alignment
Author: Coalition Secretariat
Financial institutions are joining a growing number of initiatives to align their lending and investment portfolios with the Paris Agreement goals. In this summary note written for policymakers, Jochem Wissenburg from the Ministry of Finance of the Netherlands, Florencia Baldi of the FC4S Network, and Emma Dalhuijsen and Samantha Power of the World Bank present some of the findings and suggest potential actions for government actors.
Coalition and Swedish MoF hosts Virtual Workshop on Carbon Taxation, Green Recovery, and CBAM
Author: Coalition Secretariat
On May 6, 2021, the Swedish Ministry of Finance in cooperation with the Coalition of Finance Ministers for Climate Action organized a virtual workshop on carbon pricing, emphasizing in particular the role that carbon taxation and the Carbon Border Adjustment Mechanism (CBAM) proposed by the European Commission can play in the Green Recovery process following the COVID-19 Pandemic.
Coalition Hosts Stakeholder Dialogue with the CBD Secretariat
Author: Coalition Secretariat
On Tuesday, April 27, the Coalition hosted a virtual ‘stakeholder dialogue’ with the Convention of Biological Diversity (CBD) Secretariat. A discussion took place on the potential role of MoFs in meeting the targets laid out in the Global Biodiversity Framework. Coalition Members also discussed the potential to raise awareness of actions that can be taken at the climate-nature nexus and implications for the Coalition’s work.