Ministries of Finance are engaged in many areas related to climate change policy, but few have a climate plan or strategy in place. Enhanced efforts on climate change will require ministries to leverage expertise and build capacities.
Under Helsinki Principle 2, Members prepare reviews about the design, organization and exercise of climate policy (mitigation and adaptation/resilience), and the role of the Ministry of Finance in these arrangements. Moreover, they share experiences and expertise with each other in order to provide mutual encouragement and promote collective understanding of policies and practices for climate action. The reviews cover resources and competencies representing different governance and organizational models.
Key actions and deliverables under Helsinki Principle 2 include:
- Sharing national approaches and good practices to help Members develop their capacities and roles in policy-making, including in the Nationally Determined Contributions (NDC) processes.
- Reviewing practices, resources, and competencies representing different governance and organizational models.
- Working in collaboration with partners to leverage expertise and bridge the gap between Finance Ministries and those leading on climate action.