Monaco Takes Part in the Meeting of the Coalition of Finance Ministers for Climate Action

Mr. Jean Castellini, Minister of Finance and Economy©DR

On Tuesday 6 April 2021, Mr. Jean Castellini, Minister of Finance and Economy, took part in a high-level meeting organised by the Coalition of Finance Ministers for Climate Action as a side event of the spring meetings of the World Bank and the International Monetary Fund.

This coalition, which was launched two years ago, brings together Finance Ministers from sixty developed and developing countries to discuss and collaborate on economic planning strategies that take climate change issues into account.  Collectively, this group of countries, of which the Principality has been a member since late 2019, represents approximately 39% of greenhouse gas emissions and 63% of global GDP.

This virtual meeting was an opportunity for members of the Coalition to renew their calls for the development of sustainable finance and highlight the need for a post-COVID-19 economic recovery that respects the environment.

In this context, Mr. Castellini recorded a video message on the importance of promoting strong economic recovery and growth while accelerating the transition to a low-carbon economy.  He thus referred to the "green recovery" measures that have been implemented by the Principality, in particular the contribution of the Green Fund to the National Recovery Plan.

The participation of the Ministry of Finance and Economy in these high-level discussions is in line with the key priorities of the Prince's Government, both in combating climate change and preserving biodiversity and the oceans, within and outside the Principality.

The complete speech by Jean Castellini is available via the following link

https://www.financeministersforclimate.org/events/april-2021-minister-level-meeting