This policy note presents several measures of immediate interest to finance ministries for better fiscal planning and expenditure management of climate actions. Drawing on the sourcebook, the note highlights three general areas of financial and expenditures management where improved practice will better prepare finance ministries to deal with the fiscal implications of climate change: (i) including climate change as a long-term objective in the national budget and expenditure framework; (ii) improving financial tracking and performance accountability by spending agencies; and (iii) strengthening government financial management systems to efficiently use external climate finance. Targeted at the climate budget, these actions will also promote financial discipline and overall lead to more efficient and strategic public spending. This policy note provides finance officials with seven detailed recommendations based on the experience of World Bank client countries.This policy note presents several measures of immediate interest to finance ministries for better fiscal planning and expenditure management of climate actions. Drawing on the sourcebook, the note highlights three general areas of financial and expenditures management where improved practice will better prepare finance ministries to deal with the fiscal implications of climate change: (i) including climate change as a long-term objective in the national budget and expenditure framework; (ii) improving financial tracking and performance accountability by spending agencies; and (iii) strengthening government financial management systems to efficiently use external climate finance. Targeted at the climate budget, these actions will also promote financial discipline and overall lead to more efficient and strategic public spending. This policy note provides finance officials with seven detailed recommendations based on the experience of World Bank client countries.

Year Published
Type
Report
Organization