Better Recovery, Better World: Resetting Climate Action in the Aftermath of the COVID-19 Pandemic

The COVID-19 pandemic has unleashed suffering and economic crises of historic proportions, adding to the urgent existing need for accelerated transitions to low-carbon economies. Concerns were raised about how the economic fallout from COVID-19 would affect climate action. Following immediate action to manage the crisis, policy-makers need to design and implement recovery strategies that support sustainable growth over the medium and long term. The need for sound analysis, in line with the Helsinki Principles, is all the more critical given the challenging financial and economic circumstances. This Report is a working document. Opinions or points of view expressed are those of the authors and do not necessarily reflect the views of the Coalition or its members. The main findings of the Report will be presented to Finance Ministers at a later stage, after further preparatory work, with a view to gaining political guidance as well as direction for the Coalition’s further work priorities. The primary audience for this report is policymakers at Ministries of Finance and Economy that are responsible for economic policy and cross-sector coordination. The report will also be of great interest to other ministries, institutions and academia working to support strong, inclusive, and sustainable recoveries that will help address climate change.

COP25: Finance Ministers from over 50 countries join forces to tackle climate change

Present for the first time at a COP, Finance Ministers launch plan of action

Madrid, December 9, 2019 – Today, at the UN Climate Change Conference, COP25 in Madrid, the Coalition of Finance Ministers for Climate Action launched the Santiago Action Plan that aims to accelerate their countries’ transition to low-carbon and climate-resilient economies.

The Coalition, co-led by Finland and Chile, comprises 51 countries covering 30 percent of global GDP.

Finance Ministers Join Forces to Raise Climate Ambition

WASHINGTON, April 13, 2019 — Today, at the Spring Meetings of the World Bank Group and International Monetary Fund, Finance Ministers from more than twenty countries launched a new coalition aimed at driving stronger collective action on climate change and its impacts.