Marrakech, 11 October 2023 – In a significant move underlining the commitment of the world’s leading fiscal and economic policy makers to address the pressing issue of climate change, the Coalition of Finance Ministers for Climate Action unveiled its first-ever Climate Action Statement (CAS).
Boasting over 90 member countries and 26 institutional partners, the Coalition’s CAS spotlights the concerted climate actions planned by Ministries of Finance over the upcoming year. Featuring over 170 climate-focused measures, the CAS is not just a declaration of intent but a compilation of tangible actions. These actions encompass a broad spectrum, from strategic planning and coordination, macro-economic policies, green financing, to carbon pricing and disclosure, taxonomy building and reporting mechanisms.
"Our role as finance ministers is pivotal in shaping the global response to climate change. This statement shows not only our ongoing commitment but also the concrete steps we have already undertaken. The momentum is palpable, and we are undoubtedly stepping up our efforts," said Co-Chair of the Coalition, Deputy Prime Minister and Minister of Finance from the Netherlands, Sigrid Kaag.
Complementing her colleague’s remarks, Co-Chair and Finance Minister for Indonesia, Sri Mulyani Indrawati stated: “The Climate Action Statement signifies not only our recognition of the climate crisis but also our commitment to practical, tangible actions. It reflects our collective determination to safeguard our planet's future, ensuring that economic growth goes hand in hand with environmental responsibility.”
The preparation of the Climate Action Statement was a collaborative endeavor, with significant engagement from many members. "We extend our gratitude to all the colleagues who worked diligently to make this a reality. Your engagement was thorough, constructive, and reflective of our shared ambition," said the Co-Chairs. Under the joint leadership of Indonesia and the Netherlands, the Coalition is increasingly focused on impact and action on the ground, following through on the Coalition’s ministerial discussions.
Recognizing this, the Coalition has decided to publish the Climate Action Statement annually. "Every year during our annual meetings, we will revisit our actions, reflect on our learnings, and use those insights to shape even bolder policies," announced the Co-Chairs.
The role of the Coalition is to support, enable, and empower Finance Ministers and Ministries in accelerating worldwide climate action. By fostering an environment of peer-to-peer learning and open dialogues, the Coalition is striving to tackle shared climate challenges and develop innovative solutions, supported by its expanding network of Institutional Partners.
The Coalition is not just envisioning a sustainable future; it's laying down the practical groundwork for achieving it through its growing catalogue of capacity building initiatives, knowledge products, and concrete demand-driven technical support made available to its members. The Coalition will work to amplify and leverage the expertise of partners to implement effective strategies and to deepen countries’ understanding and implementation of transformative climate policy actions.