About
Countries around the world are grappling with the impacts of a warming planet and the challenges and opportunities presented by a rapidly evolving global green economy. Ministries of Finance play a critical enabling role in making green and resilient transitions a reality. Their influence on budgets, investment strategies, and economic policy make them essential for whole-of-government action.
In this shifting landscape, Ministries of Finance are uniquely positioned to shape the policies and investments that determine the success of climate and development strategies. Yet, they also face increasingly complex and urgent questions. These range from assessing the costs, policies, and funding options for climate mitigation and adaptation, to designing fiscal and economic frameworks that promote green industry growth and build resilience to climate-related shocks.
Ministries of Finance need suitable tools and the capacity to answer many of these daunting economic questions. A growing number of Ministries are applying economic analysis to the pressing challenges they face concerning the risks from climate change and the transition toward greener, more resilient, and more prosperous economies.
Objective
Taking stock of existing efforts and providing practical insights, tools, and a global community to support Ministries in taking smarter, faster, and more effective steps toward building green and resilient economies.
Ensuring Ministries of Finance and other economic ministries have the models, data, and support needed to answer the pressing policy questions they face today.
Economic Analysis for Green and Resilient Transitions initiative
The initiative brings together expertise from within ministries and from the analytical community to facilitate the dissemination and development of new tools, methods, and datasets designed to answer the questions Ministries of Finance face. It also focuses on sharing ideas and lessons learned among those who develop analytical methods, those who apply them for policy assessments, and those who use the results for real-world decision making. The initiative aims to build an active global Community of Practice with policymakers, analysts, and institutions dedicated to the practical application of economic analysis and modeling to climate-related policy questions. Through the collective development of reports, international forums, webinars, and ongoing engagement to strengthen leadership, collaboration, and human and analytical capabilities for more informed economic analysis and decision-making, the initiative supports Ministries of Finance in remaining at the forefront of shaping a greener, more resilient, and more prosperous future.
The Macroeconomics of Green and Resilient Transitions website is a platform to make this work easy to explore, access, and apply – offering a practical gateway to policy-relevant tools and real-world examples – and to showcase the efforts of a global Community of Practice working to support this agenda.
About the Coalition of Finance Ministers for Climate Action Helsinki Principle 4
Helsinki Principle 4 (HP4) is a work stream of the Coalition of Finance Ministers for Climate Action. HP4 aims to support Ministries of Finance in mainstreaming climate change mitigation and adaptation policies in macro-fiscal and other relevant policy planning, budgeting, public investment management, and public procurement. The ‘Economic Analysis for Green and Resilient Transitions’ initiative is part of HP 4.
For more information, visit the Coalition’s website at: www.financeministersforclimate.org/mainstream