EfD has been asked to support a global effort aiming to ensure that Ministers of Finance apply the most relevant tools for assessing climate risks and climate policies. 

If Ministries are using outdated models, there is a serious risk that policy changes and investments promoting adaptation and mitigation will be delayed and increase costs and human suffering. The Coalition of Ministries of Finance for Climate Action has more than 90 members, with the World Bank and the IMF acting as the secretariat. The EfD network has shared experiences and models from Colombia, Nigeria, India, Ethiopia, and Germany that have fed into a report, Revamping Economic Analysis and Modeling to Drive Climate Leadership by Ministries of Finance, to be launched in 2025.

“EfD is well placed to support ministries to put locally adapted approaches to practice,” says John Bosco Oryema, EfD Uganda, who participated in a regional gathering organized by the coalition.