Minister Orpo: Finance ministers have key role in climate change mitigation

Ministry of Finance 18.4.2018 11.39
Press release
Minister Orpo: Finance ministers have key role in climate change mitigation
Photo: World Bank / Heather Elliot

Minister of Finance Petteri Orpo is in Washington, D.C. on 18–22 April to attend the spring meetings of the World Bank and the International Monetary Fund. His schedule also includes a number of other meetings and attendance at high-level climate events.

At the spring meetings gathering, the joint Development Committee of the World Bank and the International Monetary Fund (IMF) will discuss capital increases, voting rights reform and implementation of the futures review. Capital increases are proposed for the International Bank for Reconstruction and Development and for the International Finance Corporation. The main theme at the IMF spring meeting will be the global economy.

Cooperation and global solutions for dealing with climate change

Besides the spring meetings, Minister Orpo will also attend high-level climate events on Thursday 19 April. At the event entitled ‘Galvanizing Better Growth in an Era of Urgency: 2018 Summit of the Global Commission on the Economy and Climate’, the role of finance ministers in climate change mitigation will be discussed.

“In Washington I hope to draw attention to Finland’s ambitious climate goals and actions and to discuss the ways in which we can move forward together, globally, with a wise and workable climate policy. Finance ministers have a key role to play in this work. Government budgets should become a tool for promoting sustainable choices for the environment and the economy,” says Minister of Finance Petteri Orpo.

Minister Orpo will also attend a high-level event arranged by the Carbon Pricing Leadership Coalition (CPLC). The CPLC aims to expand the use of carbon pricing around the world. The organisation was officially launched at the Paris climate conference in 2015, and Finland joined as a government partner in 2016.

International cooperation to the fore

During his visit, Minister Orpo will meet Suma Chakrabarti, President of the European Bank for Reconstruction and Development. He will also attend the Nordic finance ministers’ meeting with David Malpass, Under Secretary for International Affairs at the U.S. Department of the Treasury. Among the issues covered at these meetings will be the European Union’s role in development funding and the level of cooperation among international financial institutions.

Follow the meetings on Twitter using #IMFMeetings and #WBGMeetings.

Inquiries:

Minna Nikitin, Senior Specialist, tel. +358 2955 30490, minna.nikitin(at)vm.fi
Tuuli Juurikkala, Senior Specialist, tel. +358 2955 30051, tuuli.juurikkala(at)vm.fi
Elisa Tarkiainen, Special Adviser, tel. +358 400 774789, elisa.tarkiainen(at)vm.fi