This brochure summarizes the policy recommendations of a World Bank upcoming publication: Fiscal Policies for Development and Climate Action. The report is a call to action for Finance Ministers. It highlights the fundamental role that fiscal instruments can play as a cost-efficient way to reduce climate emissions and enhance development.  It calls for environmental taxes and the elimination of fossil fuels subsidies to ensure that energy prices reflect all externalities. It claims that by using the revenues from these taxes to reduce other distortive taxes or increase social spending, countries can reap a ‘triple dividend’: cutting pollution, raising economic activity, and generating development Co-Benefits. Moreover, environmental tax reforms need not harm competitiveness. Encouraging findings from Indonesia and Mexico show that raising fuel prices can, under certain conditions, increase firm productivity in developing country contexts.  The report also warns that all countries need to be fiscally prepared to deal with the impact of climate change. Select investments in adaptation, contingency funds and insurance can support countries in the face of mounting climate damages. These instruments, combined with policies to maintain fiscal space, hold the promise to increase resilience while maintaining macro and debt sustainability.