At the 2018 World Bank-IMF Annual Meetings in Bali, Indonesia, the President of the WBG and the UN Secretary General convened a meeting of 40 finance ministers to drive forward greater ambition on the climate agenda through climate-informed fiscal policymaking. At COP24, it was announced that Chile and Finland would lead a global coalition of Finance Ministers aspiring to boost collective engagement on climate action.
Background At the 2018 WBG/IMF Annual Meetings in Bali, governments from 39 countries came together to discuss the role that Finance Ministers/Ministries play in driving climate action, and what could be done to strengthen these efforts. Several governments expressed strong support for the development of a Coalition of Finance Ministers that would promote domestic and global action focused on climate. In December, Minister Orpo from Finland agreed to work with Minister Larrain from Chile to co-lead the work on the Coalition by inviting other governments to meet to discuss how the
Objectives The World Bank’s Climate Action Peer Exchange (CAPE), supported by NDC Support Facility (NDC-SF), and the Eastern Caribbean Central Bank (ECCB), and jointly with Caribbean Regional Technical Assistance Centre (CARTAC) held a workshop on “Fiscal Policy for Climate Action in the Caribbean” on Jan 21-23, 2019 in the St. Kitts and Nevis.
A joint workshop by CAPE and the Center for Mediterranean Integration (CMI) to review fiscal issues that are critical for a low carbon energy transition in the Mediterranean and to share experience and knowledge between countries on the most appropriate ways to design and implement a fiscal reform conducive of the energy transition.
On September 25, 2018, the Ministry of Finance Planning and Economic Development (MoFPED) and the World Bank held a one-day workshop to mark the pilot implementation of the Climate Change Budget Tagging (CCBT) system. The CCBT is a system to identify and track climate-relevant public expenditures. The system will enable expenditure analysis for the Government of Uganda’s climate actions, and allow for consistent reporting by spending ministries, and budget planning.