Energy on the agenda in meetings of international institutions in Washington

Minister of Finance Annika Saarikko will attend the annual meetings of the World Bank and the International Monetary Fund (IMF) in Washington on 13–15 October. The Coalition of Finance Ministers for Climate Action will also meet on 12 October, and Minister Saarikko will chair the meeting.

Minister Saarikko will represent the Nordic Baltic Constituency in the joint Development Committee of the World Bank and the IMF. The Committee will discuss the role of the World Bank in responding to food and energy crises. The second main topic is financing climate and development goals. The Committee will also discuss learning outcome losses during times of crisis.

The International Monetary and Financial Committee will discuss the state of the global economy. A particular cause for concern is the acceleration of inflation as food and energy become more expensive.  The Nordic Baltic Constituency is in favour of IMF support for members that are more fragile and for Ukraine.

Climate Coalition now includes 78 countries

The Coalition of Finance Ministers for Climate Action will discuss the macroeconomic and financial policy aspects of the green transition, particularly the transition of the energy sector. The goal of the meeting is to help ministers understand the economic policy challenges presented by the green transition and to share experiences and ideas between countries.

“The green transition has acquired new dimensions in addition to the fight against climate change. By breaking away from fossil energy sources, we can reduce our dependence on countries that produce fossil energy. At the same time, we can prevent shocks to our economy caused by energy, such as the one we are now experiencing. Through the green transition, we will be better equipped to face this type of crisis and to protect the stability of our societies,” Minister Saarikko says.

Minister Saarikko will chair the Climate Coalition meeting together with Indonesian Minister of Finance Sri Mulyani Indrawati. The Climate Coalition has now grown to 78 member countries. 

Inquiries:

Tuuli Juurikkala, Senior Ministerial Adviser (World Bank and IMF), tel. +358 295 530 620, tuuli.juurikkala(at)gov.fi

Pekka Morén, Senior Ministerial Adviser (Climate Coalition), tel. +358 295 530 290, pekka.moren(at)gov.fi

Joel Kuuva, Special Adviser to the Minister, tel. +358 504 146 444, joel.kuuva(at)gov.fi