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Fiscal policy to combat climate change

Ministry of Finance 19.2.2019 14.22
News item

Climate experts of Ministries of Finance meet in Helsinki on 21–22 February.

The decision to launch cooperation on climate issues was made at the Annual Meeting of the World Bank last October. The process is being co-led by the Minister of Finance of Finland Petteri Orpo and the Finance Minister of Chile Felipe Larraín Bascuñán.

The aim is to harness the input of the Ministries of Finance and fiscal policy tools to combat climate change: taxation, budgeting, financing and public procurement.

The task for the senior public officials in Helsinki is to draft key documents to guide the Coalition, including a set of common principles on the use of fiscal policy and public finance to support climate action. These key documents will guide the cooperation of the Finance Minister Coalition for Climate Action.

About 40 experts from 18 countries are expected to attend the meeting, which will be opened by Minister Orpo. The meeting will be chaired by Pekka Morén from the Ministry of Finance of Finland and Lorena Palomo from the Ministry of Finance of Chile.

The outcome of the work is to be presented to the Ministers of Finance in April at the spring meeting of the World Bank and International Monetary Fund in Washington.

Finance Minister Coalition for Climate Action – Sherpa Meeting

Inquiries:

Pekka Morén, Senior Ministerial Adviser, tel. +358 2955 30290, pekka.moren(at)vm.fi
Elisa Tarkiainen, Special Adviser, tel. +358 400 774789, elisa.tarkiainen(at)vm.fi