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Posted On

13
October
2021

Ukraine joins Coalition of Finance Ministers for Climate Action as part of IMF and World Bank annual meetings

KYIV. Oct 13 (Interfax-Ukraine) – Ukraine has joined the Coalition of Finance MinistersforClimate Action as part of annual meetings of the International Monetary Fund (IMF) and the World Bank, the Finance Ministry said.

"The result of the meeting (which took place on October 12) was approval by the countries participating in the Joint Ministerial Statement, which states the need to implement systemic changes in economic and financial policy, dedication to the Helsinki Principles for achieving sustainable recovery and key climate goals," the Ministry of Finance said.

The Helsinki Principles, in particular, stipulate the need to harmonize policies with the Paris Agreement, develop measures to achieve effective carbon pricing, and take climate change into account in macroeconomic policies.

The finance ministers in a joint statement noted the unity of views on the current and potential challenges related to climate change and the implementation of climate policy through macro-fiscal finance.

The Coalition of Finance Ministers was launched in April 2019 and is currently joined by 65 countries. Finance ministers are working on strategies to integrate the climate issue into economic and financial policies to ensure a just transition to a low-carbon environment.