Posted on: Sep 23rd, 2021

Tracking and Measuring Subnational Climate Finance

Although regions and cities are increasingly being recognised as critical actors in the carbon-neutral transition, their financial role in environment and climate-related areas remains poorly measured, and therefore unacknowledged. This is due, in large part, to a paucity of research on the topic and a lack of expenditure and revenue data. To address these limitations, the OECD carried out a study in 2018-19 to develop a pilot methodology that provided preliminary results, but also revealed the need for further work. Developing an international standardised methodology for climate finance tracking at the subnational level, along with promoting climate-oriented budgetary practices, can help address these limitations, by enhancing the measurement of subnational public expenditure and investment related to climate priorities.

This expert workshop is held as part of a joint project led by the OECD’s Centre for Entrepreneurship, SMEs, Regions and Cities (CFE) and the European Commission on Measuring and Enhancing Subnational Government Finance for Environment and Climate Action in OECD and EU Countries. The project, launched in October 2020, contributes to enhance the tracking and measurement of subnational public expenditure and investment related to climate priorities. The new project has three streams of work: a macro-level analysis to identify climate-related expenditure for subnational government climate finance; a micro-level analysis, consisting of a subnational green budgetary analysis, featuring two case studies (one city-focused with the City of Venice, one regional with the Region of Brittany); and a literature review of both aspects.

Date: Wednesday 13 October 2021

Time: 15.30 – 17.30 (CEST)

The purpose of the webinar is twofold:

·        To present the project’s progress to-date, including preliminary findings from two subnational green budgeting case studies and from the creation of two new databases on subnational climate finance, and gather feedback from partners and climate finance stakeholders.

·        To identify synergies and complementarities with other initiatives focused on tracking and measuring subnational climate finance.

This virtual event will gather subnational government representatives, international partners and climate finance stakeholders engaged in tracking and measuring subnational climate finance worldwide. The event consists of two sessions featuring keynote presentations from the OECD followed by roundtable discussions to discuss the preliminary findings of the project.