Climate on the agenda as Minister for Finance hosts international conference in Stockholm
Representatives of a large number of finance ministries, the World Bank, the International Monetary Fund (IMF) and the Organisation for Economic Cooperation and Development (OECD) will gather in Stockholm on Thursday and Friday. They will attend a conference held within the framework of the new Coalition of Finance Ministers for Climate Action – a group of ministers who want to step up their engagement on climate change. Specific taxes on carbon dioxide will be discussed at the conference.
“We finance ministers must take the lead in fighting climate change,” says Minister for Finance Magdalena Andersson.
The Coalition of Finance Ministers for Climate Action was launched in April this year and currently has 43 member countries. The group’s aim is to increase engagement and knowledge among the world’s finance ministers.
Sweden and Ms Andersson have a leading role in the group’s work, which entails finding effective ways to put a price on carbon dioxide emissions. This is also the theme of the conference hosted by Sweden this week.
“Sweden was one of the first countries in the world to introduce a carbon dioxide tax, almost thirty years ago. More countries are now taking an interest in our model, and it is often cited as a successful example, since we have managed to reduce carbon dioxide emissions while maintaining good economic growth,” says Ms Andersson.
A total of 27 countries will be represented at the conference on 3–4 October.
About the Coalition of Finance Ministers for Climate Action
The Coalition was formally launched in April this year and is led by Chile and Finland. A total of 43 countries are members. The Coalition has adopted a number of principles for its work, including working towards measures that result in effective carbon pricing. Minister for Finance Magdalena Andersson has a leading role in this, since Sweden has long experience of carbon dioxide tax. The Coalition is also working on an action plan to be launched at the UN Climate Change Conference (COP25) in Santiago in December.