About the Coalition

Finance Ministers hold the keys to accelerating climate action. They know most clearly the risks posed by climate change, and recognize how taking action could unlock trillions in investments and create millions of jobs through 2030.

The Coalition of Finance Ministers for Climate Action brings together fiscal and economic policymakers from over 90 countries in leading the global climate response and in securing a just transition towards low-carbon resilient development.

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The Helsinki Principles

The six Helsinki Principles guide the Coalition's commitment to #ClimateAction

Helsinki Principle 1: Align Policies with the Paris Agreement

Align our policies and practices with the Paris Agreement commitments
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Helsinki Principle 2: Share Experiences & Expertise

Share our experience and expertise with each other in order to provide mutual encouragement and promote collective understanding of policies and practices for climate action
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Helsinki Principle 3: Promote Carbon Pricing Measures

Work towards measures that result in effective carbon pricing
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Helsinki Principle 4: Mainstream Climate in Economic Policies

Take climate change into account in macroeconomic policy, fiscal planning, budgeting, public investment management, and procurement practices
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Helsinki Principle 5: Mobilize Climate Finance

Mobilize private sources of climate finance by facilitating investments and the development of a financial sector which supports climate mitigation and adaptation
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Helsinki Principle 6: Engage in NDC Development

Engage actively in the domestic preparation and implementation of Nationally Determined Contributions (NDCs) submitted under the Paris Agreement
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Workstream: Adaptation

Adapting to the risks of climate change to moderate potential damages or to benefit from opportunities
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Workstream: Green and Just Transition

Combining environmental sustainability with social justice must be considered in any effort to build a more sustainable future for everyone
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Workstream: Nature

Prioritizing nature-based solutions in budgeting decisions is imperative for the Ministries of Finance to mitigate environmental impact
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Member countries


of global carbon emissions


of Global GDP

Member Countries


The Secretariat



View recent and upcoming Coalition events, including workshops, webinars and meetings

Climate is Becoming Part of Our Core Business - 92 countries work together for climate action

February 07, 2024


The Hague, February 1, 2024

Ministries of Finance from 92 countries work together for climate action

The Coalition of Finance Ministers for Climate Action met on February 1-2 in The Hague, the Netherlands. The Coalition offers a platform for ministers and ministries of Finance from 92 countries and several international organizations to discuss the financial aspects of climate change. Co-chairs Ralien Bekkers (the Netherlands) and Masyita Crystallin (Indonesia) sat down to discuss their goals and hopes for the meeting.

Bridging the gap between countries is part of the Coalition’s core. This is also reflected in its structure. Masyita: ‘The co-chair position by design is filled by one advanced economy, and one emerging or developing economy. Because countries come with different initial conditions, financial situations, emission accumulation, and overall stage of development.’ Countries take the position of co-chair for at least two years, with two possible one-year extensions. Indonesia will soon enter its final year; the Netherlands started as co-chair last year.

Honest conversation

The Coalition offers a platform for members to speak plainly. Masyita: ‘We have created a safe space for members to discuss things that are important for climate action but not yet implemented in their own country, or even are still politically sensitive.’ This puts the Coalition in a unique position. ‘We are not making formal decisions, but that also has a positive side’, Ralien adds. ‘Because it is not a formal process, there is room for honest conversation about what is actually working or not.’ She hopes these efforts will find their way into policy. ‘We would like to have more and more Ministers of Finance to take what’s discussed within the Coalition to a G20, to the COP, to other global fora – and of course to their own countries to advance implementation of actions on the ground.’

Peer network

But it is about more than just convening and speaking. Being able to call upon already proven ideas and ways of implementing climate action as ministries of Finance is an invaluable resource for members, despite the differences between countries. Ralien: ‘Policy instruments – practical implementation – are one of our key focuses as co-chairs. To collectively grow our understanding of what we can do in our own countries and how to do it. To achieve that, we are working to strengthen the peer network and facilitate the exchange of experiences through the Coalition.’


This year marks the fifth anniversary for the Coalition. In that time they have grown substantially, which provides both opportunities and challenges, Masyita states: ‘At the size we’re at right now, you run into the risk of becoming too big. You need a better mechanism to be able to hear everyone’s voice, so we really want to activate our members’ involvement in the Coalition.’ Ralien adds: ‘We want our members to become leaders and champions in their own regions, activating others. Our current chairmanship term will end in 2025, which coincides with an important UN Conference of Parties (COP) and a deadline for the next round of national climate plans. The Coalition advocates for ministries of finance to be more involved in those.’


There are, understandably, some that ask why the ministry of finance is involved in handling climate issues. Masyita: ‘Ministries of Finance are often outside of climate conversations. For example at the COP, Ministries of Finance are generally not part of the “parties” that represent their governments in the negotiations. But the involvement of our ministries helps move climate policy forward. This is part of why the Coalition was formed.’ The climate issues are also often so complex that they touch on many political and societal aspects. Ralien: ‘Climate is becoming part of our core business. It impacts fiscal affairs, it impacts costs; it impacts finance.’

Ministers of Finance Discuss Role of Public and Private Climate Finance at Coalition’s Ministerial Meeting at COP28

December 04, 2023



Dubai, 4th December 2023 

Meeting at the UN Climate Change Conference COP28 in Dubai, Finance Ministers attended the Ministerial Meeting on "The role of Finance Ministers in mobilizing public and private climate finance" organized by the Coalition of Finance Ministers for Climate Action. The Ministerial Meeting was convened under the leadership of Sri Mulyani Indrawati, Minister of Finance of Indonesia and Sigrid Kaag, Minister of Finance of the Netherlands, Co-Chairs of the Coalition.  

“Effective climate action, right decisions and prioritization rest on the shoulders of Ministers of Finance” said Sigrid Kaag, Co-Chair of the Coalition, in her opening remarks. 

Opening remarks were further provided by Kristalina Georgieva, Managing Director of the International Monetary Fund, Axel von Trotsenburg, Senior Managing Director of the World Bank, Ambassador Majid Al Suwaid, COP28 Director General, and Simon Stiell, Executive Secretary, UNFCCC

The Ministerial Meeting took place as countries discuss the Global Stocktake which shows that the world faces substantial gaps in achieving the goals of the Paris Agreement. Responding to the challenges faced by Ministries of Finance, Lord Nicholas Stern and Vera Songwe of the London School of Economics Grantham Research Institute on Climate Change and the Environment, presented the Coalition’s flagship report "A Climate Finance Framework: Decisive action to deliver on the Paris Agreement". Key recommendations to Finance Ministries include prioritizing subsidies, focusing on carbon pricing and mobilizing private sector finance. 

A panel discussion followed by Tatiana Rosito, Deputy Secretary for Sustainable Finance, Ministry of Finance, Brazil, Benjamin Diokno, Secretary of the Department of Finance, Ministry of Finance, Philippines, Charlotte Vere, Parliamentary Secretary, HM Treasury, United Kingdom

Building on the publication of its first Climate Action Statement at the 10th Ministerial Meeting during the Annual Meetings in Marrakech, the Ministerial Meeting invited Finance Ministers to share the impact of the policies they are implementing to unlock investment opportunities and mobilize climate finance, as well as share best practices, lessons learned and experiences. 

In response, Mihaly Varga, Minister of Finance, Hungary, Azucena Arbeleche, Minister of Economy and Finance, Uruguay, Achim Steiner, Administrator, UNDP, and Werner Hoyer, President, EIB, Wale Edun, Minister of Finance, Nigeria, Mohamed Maait, Minister of Finance, Egypt, Alexia Latortue, Assistant Secretary for International Trade and Development, US, Daniella Stoffel, State Secretary for International Finance, Switzerland, Jennifer Carroll MacNeill, Minister of State Department of Finance, Ireland, Magnus Brunner, Minister of Finance, Austria, Jeppe Bruus, Minister of Taxation, Denmark, Francesca Utili, Director General for International Financial Relations, Italy, Thierry Watrin, Green Economy Advisor, Ministry of Finance, Rwanda made interventions highlighting the role of Finance Ministries in offering the scale, speed and effectiveness of climate action. 

In her closing remarks, Sri Mulyani Indrawati, Co-Chair of the Coalition, highlighted the task as well as opportunities ahead for Ministers of Finance to develop and implement ambitious climate action. Sri Mulyani Indrawati also announced the collaboration with the NDC Partnership to provide targeted resources and expertise for Ministries of Finance to actively engage in the development of NDCs and LT-LEDS.