|
We will not address the climate and environmental crisis without deeply transforming our budgets. Acknowledging this reality, more and more finance ministries are implementing tools to facilitate and optimize the consideration of the environment in budgetary decisions, known as “green budgeting” tools. Environmental Budget Tagging or Assessment is one such tool, which aims to highlight all budgetary measures related to one or more dimensions of environmental action, such as climate change, biodiversity or land degradation.
This week, I4CE dedicates its newsletter to this tool that is being deployed in several countries as well as in local authorities, to help you better understand its strengths and limitations. You will discover our latest study which reviews the experiences of Environmental Budget Tagging around the world in order to identify the conditions under which this exercise is most useful. However, even when used properly, it does not say whether a country's or a local authority's budget is consistent with its environmental ambition. It says nothing, for example, about the additional needs to be mobilized to reduce greenhouse gas emissions and adapt. To do this, we need to go beyond simple budget tagging. This is what the experts at I4CE remind us in a blog post and an opinion piece.
|
