Launch of The Coalition of Finance Ministers for Climate Action

On the 13th of April, the World Bank hosted the launch of the Coalition of Finance Ministers for Climate Action, during the 2019 WB/IMF Spring Meetings in Washington, D.C.. This follows the Sherpa meeting in Helsinki in February 2019, where key documents were drafted to guide the Coalition, including a set of common principles on the use of fiscal policy and public finance to support climate action. The newly formed Coalition aims to become a platform to promote fiscal policies, mobilization of financial resources to climate mitigation and adaptation, and best practices that can address climate change and harness the opportunities of a resilient, low-carbon economy, in line with the Paris Agreement. So far 22 finance ministers have joined the coalition. The countries that have endorsed the principles are: Austria, Chile, Costa Rica, Cote d’Ivoire, Denmark, Ecuador, Finland, France, Germany, Iceland, Ireland, Kenya, Luxembourg, Marshall Islands, Mexico, Netherlands, Nigeria, Philippines, Spain, Sweden, Uganda, and the United Kingdom. Since the formal announcement the following countries have also signed on: Colombia, Fiji, Guatemala and Norway. Please find the Coalition timeline through this link and the press release from the World Bank through this link.