Summary Report from a Global Compendium of Practice
This report summarizes the Compendium of Practice featured on this website, a global repository of contributions that showcase the knowledge and experience of a growing community of Ministries of Finance (MoFs) and supporting partners that are making significant strides toward mainstreaming climate change in macroeconomic analysis and modeling tools, and that are using these tools to drive climate action.
The overall aim is for the Compendium to contribute to improved analytical tools being used within MoFs to inform the decisions needed to drive climate action at the pace and scale required.
Key features of the summary report:
- The report summarizes each of the 132 Compendium contributions.
- The contributions have been written by 71 institutions, including 39 contributions from 17 MoFs from around the world.
- More than 15 analysis and modeling tools are mentioned or described, from dynamic stochastic general economic (DSGE) models and computable general equilibrium (CGE) models to physical climate risk assessments and catastrophe models.
- The contributions contain descriptions of more than 30 specific models that have been developed and are in use by various organizations.
- As well as contributions from MoFs, the Compendium and report include contributions from international financial institutions, multilateral development banks, academic institutions, think tanks, and private sector organizations, among others.
Topics include:
- MoFs’ experiences in building analytical capacity and deploying analytical tools to help answer the specific climate policy questions they face.
- The shortcomings of existing tools for capturing both physical climate risk and the economic impacts of climate policies.
- The development and implementation of new datasets and models.
- The emerging ecosystem of support available to MoFs for building analytical capacity.
The Compendium was assembled for a program of work focused on improving macroeconomic analysis and modeling tools for MoFs both as part of Helsinki Principle 4 of the Coalition of Finance Ministers for Climate Action and beyond. It is designed to provide a common reference point for the growing Community of Practice assembled as part of the overall work program. It highlights the diversity of challenges in developing and deploying relevant analytical tools as well as the ongoing work to help address these challenges.