About the Coalition

Finance Ministers hold the keys to accelerating climate action. They know most clearly the risks posed by climate change, and recognize how taking action could unlock trillions in investments and create millions of jobs through 2030.

The Coalition of Finance Ministers for Climate Action brings together fiscal and economic policymakers from over 90 countries in leading the global climate response and in securing a just transition towards low-carbon resilient development.

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The Helsinki Principles

The six Helsinki Principles guide the Coalition's commitment to #ClimateAction

Helsinki Principle 1: Align Policies with the Paris Agreement

Align our policies and practices with the Paris Agreement commitments
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Helsinki Principle 2: Share Experiences & Expertise

Share our experience and expertise with each other in order to provide mutual encouragement and promote collective understanding of policies and practices for climate action
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Helsinki Principle 3: Promote Carbon Pricing Measures

Work towards measures that result in effective carbon pricing
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Helsinki Principle 4: Mainstream Climate in Economic Policies

Take climate change into account in macroeconomic policy, fiscal planning, budgeting, public investment management, and procurement practices
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Helsinki Principle 5: Mobilize Climate Finance

Mobilize private sources of climate finance by facilitating investments and the development of a financial sector which supports climate mitigation and adaptation
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Helsinki Principle 6: Engage in NDC Development

Engage actively in the domestic preparation and implementation of Nationally Determined Contributions (NDCs) submitted under the Paris Agreement
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Workstream: Adaptation

Adapting to the risks of climate change to moderate potential damages or to benefit from opportunities
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Workstream: Green and Just Transition

Combining environmental sustainability with social justice must be considered in any effort to build a more sustainable future for everyone
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Workstream: Nature

Prioritizing nature-based solutions in budgeting decisions is imperative for the Ministries of Finance to mitigate environmental impact
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98 Member Countries

 

Member Countries

 

Events

View recent and upcoming Coalition events, including workshops, webinars and meetings

Coalition of Finance Ministers Event - Adaptation Working Group High-Level Roundtable Summary Read-Out

June 03, 2025

Coalition of Finance Ministers Event - Adaptation Working Group High-Level Roundtable Summary Read-Out
Co-hosted by the UN Foundation and Partners | Spring Meetings 2025
Date: 25th April 2025
Location: Washington, D.C., USA

This high-level roundtable convened ministries of finance, development banks, investors, and civil society to explore actionable solutions to unlock capital for climate adaptation. Held under Chatham House Rule, the session was co-chaired by the governments of Uganda, the Netherlands, and Indonesia, and co-organised by the UN Foundation, World Resources Institute (WRI), DanChurchAid, UNEP and the Adaptation Working Group of the Coalition of Finance Ministers for Climate Action.  Opening remarks by Cristina Rumbaitis del Rio of the UN Foundation called for a shift from diagnosing the adaptation finance gap to delivering concrete solutions. She challenged participants to identify how ministries of finance can lead in structuring public finance to leverage capital at scale. The session followed two tracks: domestic finance systems and private capital mobilisation.

The video presentation of Dr. Nicola Ranger and Mr. Jay Koh can be found here.

Domestic Finance Systems and Fiscal Policy
Dr. Sam Mugume Koojo (Uganda) emphasised adaptation as an economic priority requiring systemic financial leadership from finance ministries. He outlined three focus areas for the Coalition's workstream through 2026: managing climate risk, scaling best practices, and improving access to adaptation finance.

Dr. Nicola Ranger (University of Oxford and Executive Director at Earth Capital Nexus, London School of Economics) presented a framework for integrating climate risks into fiscal governance (presentation is here):

  • Integration: Embed physical risk in macroeconomic models and debt sustainability.

  • Alignment: Ensure public budgets support resilience goals.

  • Enabling Environment: Establish regulatory and institutional systems that facilitate finance.

  • Mobilisation: Deploy public finance strategically to crowd in private capital.

Key Discussion Points

  • Transparency around climate risks can enhance creditworthiness; unmanaged risks are already priced into financial markets.

  • Fiscal risk and debt sustainability are compatible with climate resilience.

  • Concessional finance remains vital for highly indebted countries with limited fiscal space.

  • Domestic resource mobilisation, including carbon pricing and subsidy reform, was highlighted despite political sensitivity.

  • Pragmatic planning should prioritise feasibility over perfection.

  • Subnational actors and cities must be supported through improved fiscal autonomy.

  • Bhutan was cited as an example of integrated planning across ministries.

  • A live repository of case studies was proposed to share replicable good practices.

Private Capital Mobilisation
Jay Koh (Lightsmith Group) emphasised that adaptation is not a choice but a reality. (presentation here) He shared that:

  • Less than 5% of global climate finance flows to adaptation. Climate impacts are now a near-certain planning factor for investors. Climate risks are more predictable than many other risks investors are managing, and not incorporating these risks represents a real cost to both the public and private sectors. 

  • Resilience investments are already yielding returns across agriculture, energy, and infrastructure.

  • The CRAFT fund, supported by GCF, EIB, and others, has proven that adaptation technologies are investable.

  • The SCALE platform strategy—an integrated investment approach to climate adaptation investment (a “virtual green bank for adaptation”)—could scale up private investment in adaptation and climate resilience across equity, credit, and technical assistance and could be an important counterparty to country platforms.

  • Blended finance must be scaled with clearer resilience metrics.

  • Public-private partnerships and performance-based targets can drive innovation.

Key Discussion Points:

  • Institutional investors are recognising climate risk as a central investment driver, and sovereign wealth funds are beginning to assess climate resilience as an investment opportunity. 

  • The market for resilience-related technologies is rapidly expanding, growing from $170 billion in 2018 to an estimated $480 billion by 2025.

  • The CRISP framework helps map investable climate resilience technologies across water, energy, agriculture, and infrastructure sectors.

  • Adaptation investments can be commercially viable, with the CRAFT Fund showcasing examples such as satellite analytics for wildfire risk and precision agriculture technologies in Brazil.

  • Public-private partnerships must evolve to set measurable performance-based targets for adaptation, enabling the private sector to respond through innovation.

  • Governments can create enabling environments and de-risk early-stage deployment using blended finance, guarantees, and technical assistance.

  • Participants stressed the need to move beyond adaptation as a cost toward framing resilience as a competitive advantage and growth strategy and sound risk management.

  • Multi-stakeholder partnerships, where private investors and companies, as well as civil society actors, collaborate, have potential, and can reduce risks, promote localisation, and strengthen the possibilities for sustainable effects.  Publication: From Loss to Value Creation - DanChurchAid  

  • Published Report shared by Jay Koh:

     

Closing Reflections
Closing remarks reaffirmed the central role of finance ministries and the urgency of building adaptation capacity. Ministries were encouraged to lead and integrate climate into national development, while public finance institutions must coordinate better and support country-level planning, with technical tools and data.

Upcoming Resources & Initiatives

  • Coalition paper on physical climate risk (Q2 2025), G20 presentation & training

  • OECD Climate Adaptation Investment Framework and OECD Blended Finance Guidance (2024)

  • CIF Economic Resilience Programme (pending approval by its board)

  • CRISP tool, CCDRS, and CRAFT Fund for adaptation technology

  • Repository of case studies (proposed)

The Coalition at the Sixth Global Conference on Strengthening Synergies between the Paris Agreement and the 2030 Agenda for Sustainable Development

June 03, 2025

On 27 May, the Coalition joined the panel “Financing the Future We Want” at the Sixth Global Conference on Strengthening Synergies between the Paris Agreement and the 2030 Agenda for Sustainable Development. 

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Our input to these discussions focused on the pivotal role that Ministries of Finance play in turning green and resilient transitions into reality. Their influence over budgets, investment strategies, and economic policy makes them essential to making whole-of-government action work and move from ambition to implementation and investment. But to do this effectively, Ministries of Finance need strong analytical tools and capabilities.

Mads Dalum Libergren, Senior Advisor and Deputy of the Coalition of Finance Ministers for Climate Action, Ministry of Finance, Denmark

That's where the Coalition of Finance Ministries for Climate Action Economic Analysis for Green and Resilient Transitions initiative comes in. Part of the Coalition’s Helsinki Principle 4 Work Stream, the initiative is led by the Ministry of Finance of Denmark , with the support of Grantham Research Institute on Climate Change & the Environment

It brings together Ministries of Finance, international financial and development institutions, and leading academics into a global community of practice. Our goal: to develop practical guidance, improve tools, and build capacity for smarter, faster, and more effective economic decision-making for green and resilient transitions.

ick Godfrey, Distinguished Policy Fellow of Public Finance and Economics, Grantham Research Institute on Climate Change and the Environment, London School of Economics

Nick Godfrey, Distinguished Policy Fellow of Public Finance and Economics, Grantham Research Institute on Climate Change and the Environment, London School of Economics

At the conference, Coalition Co-Chair Sam Koojo of Uganda’s Ministry of Finance, Planning and Economic Development, Mads Dalum Libergren of the Ministry of Finance of Denmark and Nick Godfrey of Grantham Research Institute on Climate Change & the Environment set out how Ministries of Finance across the world do understand the urgency. Delivering on their core mandates of macroeconomic stability, sustainable growth, and sound public finances now increasingly depends on their ability to account for the risks and opportunities of climate change and the green transition.

❓ However, Ministries of Finance often face complex policy questions about the direct and indirect impacts of climate change - and the economic implications of transitioning to a green and resilient economy. They need to provide answers grounded in sound economic analysis that set out the economic risks and opportunities of different policy pathways. Developing the tools and strengthening the analytical capacity to address these types of questions within Ministries of Finance can be key levers for countries to respond more effectively to the challenges of climate change at the pace and scale required.

While awareness is high, most are still early in developing the tools, data, and capacities needed to guide effective green and resilient transitions. However, there is momentum. A growing number of Ministries are already applying economic analysis to tackle climate risks and shape greener, more resilient, and more prosperous futures.

Sam Mugume Koojo, Assistant Commissioner, Ministry of Finance, Planning and Economic Development, Uganda

Sam Mugume Koojo, Assistant Commissioner, Ministry of Finance, Planning and Economic Development, Uganda

💡 One key takeaway: Ministries don’t need the perfect economic modeling tool to get started. They can begin with the tools and knowledge they already have, building capabilities and enhancing analysis over time. Effective work requires more than just technical tools—it needs skilled teams, coordination, and governance that ensure analysis informs actual policy.

🌱 We’re encouraged by the growing interest in this work. The Coalition of Finance Ministers for Climate Action will soon share new insights and concrete examples to help Ministries of Finance around the world strengthen their capacity for robust economic analysis and modelling - empowering them to drive the transition to green, resilient, and prosperous economies.

 

 

Want to learn more: Read the summary report of the 6th Global Climate and SDG Synergies Conference: https://enb.iisd.org/global-climate-sdg-synergies-conference-6-summary

*Photos by IISD/ENB | Mike Muzurakis

13th Ministerial Meeting Outcome Statement

Submitted by Fernanda Vilar on

The Coalition of Finance Ministers for Climate Action hosted its 13th Ministerial Meeting, at the Spring Meetings 2025. Finance Ministers from around the world discussed how to drive economic prosperity, sustainable development, and climate action, amid constrained fiscal environments. They agreed on the importance of climate action now, both to mitigate risks and strengthen resilience, and to enable countries to take advantage of the opportunities presented by the global transition.

Pakistan Finance Minister Muhammad Aurangzeb said that climate change had already impacted food production and the livelihood of millions in Pakistan.

March 31, 2025

 Pakistan was ranked the most vulnerable country to climate change in 2022, followed by Belize and Italy, according to data in the Climate Risk Index (CRI) for 2025 report released by European think tank Germanwatch last month. 

Addressing a ceremony in Islamabad marking the first ‘World Day of Glaciers,’ Pakistani Finance Minister Muhammad Aurangzeb said: “This disturbed water cycle [due to rising global temperatures] is already impacting crop yields, food production, and the livelihood of millions.” This highlights the severe consequences of climate change on Pakistan's food production and the livelihood of millions. 

“We need to come up with well-structured projects to access climate financing,” he remarked, assuring that the Ministry of Finance would extend full support in tackling the crisis. 

Pakistan has faced unprecedented floods caused by record-breaking monsoon rainfall and glacial lake outburst floods (GLOFs). With over 3,000 glacial lakes, 33 of which are highly volatile, the danger to millions is alarming. 

The government is launching the country's first Glacier Conservation Strategy to protect these vital ecosystems. Continuous glacier retreat leads to extreme events and evolving disaster risks for downstream populations. Glaciers are crucial for regulating the global climate and providing fresh water for billions of people. 

News on our LinkedIn

East Africa Region Holds Director-Level Climate Finance Meeting

February 22, 2025

Joel Muhinda participated in on behalf of the Co-Chairs and delivered a featured presentation at the recent East Africa Climate Finance Director Level Meeting held in Arusha, Tanzania, on February 17-21, 2025. 
 
The conference gathered finance directors and policymakers from across the region to explore various dimensions of climate finance, emphasizing the enhancement of regional capabilities and cooperation in tackling climate challenges. 
 
Muhinda's presentation “Leveraging the Coalition of Finance Ministers for Climate Action,” underscored the crucial role of finance ministers in mobilizing climate finance. Collaborating with esteemed entities such as the Ministry of Finance, Planning and Economic Development (MoFPED), the East African Community, the Foreign, Commonwealth & Development Office, the Global Green Growth Institute, and The Coalition of Finance Ministers for Climate Action, they discussed strategic approaches to fortify climate finance frameworks essential for sustainable development and resilience across East Africa. 
 
The session highlighted the need for innovative financing mechanisms and robust regional cooperation to reach the ambitious targets set at COP29.