Global NDC Conference 2018 – Breakout Session

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Presentation transcript:

Global NDC Conference 2018 – Breakout Session ‘Green fiscal policies’: creating mitigation incentives and mobilizing revenues for climate action through environmental taxes and subsidy reform. Global NDC Conference 2018 – Breakout Session

Green Fiscal Policy Network Founding Supported by: partners: Associated partners: Objective: Promote green fiscal policy globally through enhancing knowledge sharing, policy dialogue and outreach www.greenfiscalpolicy.org

‚Brown‘ vs. ‚green‘ finance Global externalities of fossil fuel consumption (IMF 2019): USD 4.7 Trn. Fossil fuel subsidies (IEA 2018): USD 373 Bn. Global public climate finance committed by until 2020: USD 100 Bn.

Fiscal instruments in NDCs

Fiscal instruments in NDCs National ETS Carbon Tax Fossil Fuel Subsidy Reform Environmental tax reform

Session questions What is the potential of green fiscal policies to contribute to achieving countries‘ mitigation objectives? How are countries using revenue green fiscal policies? How to strengthen the engagement of Ministries of Finance in NDC formulation and implementation?

Questions for discussion Why does green fiscal policy not have a more prominent part in current NDCs? Looking to revised NDCs to be submitted, what can be done to better harness the mitigation potential of green fiscal policies? How can the engagement of Finance Ministries in NDC formulation and implementation be strengthened?