Coalition of Finance Ministers for Climate Action
Global economic outlook on the agenda of the spring meeting of the Coalition for Climate Action
The Coalition of Finance Ministers for Climate Action will hold its spring meeting on Tuesday 19 April. Due to the COVID-19 pandemic, the meeting will be held virtually in connection with the Spring Meetings of the World Bank and the International Monetary Fund (IMF). Finland has served as the one of the chairs of the Coalition since 2019, and the meeting is due to decide on extending the term by one more year until spring 2023.
The meeting will discuss the global economic outlook and its impact on climate policy decision-making from the perspective of economic policy. The ministers will hold their discussion against the backdrop of the current geopolitical situation, which has put pressure on the prices and availability of energy. Among other subjects, the meeting will discuss how the changed situation will affect the green transition and climate goals. The main focus of the meeting will be on initiatives and reforms concerning carbon pricing.
The finance ministers will publish a declaration in connection with the meeting. The discussions to be held in the spring meeting are also part of the Coalition's preparations for COP27, which will take place in Sharm el-Sheikh, Egypt.
In addition to the finance ministers, the annual meeting will be attended by the Coalition's institutional partners. For example, President David Malpass will represent the World Bank at the meeting, Executive Director Kristalina Georgieva will represent the IMF, and Director General Ngozi Okonjo-Iweala will represent the WTO.
The Coalition has grown to 71 countries
The Coalition of Finance Ministers for Climate Action brings together fiscal and economic policymakers from around the world and seeks to ensure fiscal and economic planning is part of the global response to climate change. The Coalition was launched in Washington DC in April 2019 on Finland’s initiative. During the past year, the Coalition has welcomed 11 new members, bringing the total to 71 member countries, who are committed to the Helsinki Principles.
The spring meeting is due to decide on extending Finland's and Indonesia's terms as chairs of the coalition to April 2023.
Pekka Morén, Senior Ministerial Adviser, tel. +358 295 530 290, pekka.moren(at)gov.fi