Navigating the 'mid-transition' period of the low-carbon shift: 
The critical role of finance ministries

In partnership with the Coalition of Finance Ministers for Climate Action and the Coalition for Capacity on Climate Action

Tuesday, April 16, 2024, 4:00 – 5:15 p.m. EDT
The Brookings Institution, Falk Auditorium, 1775 Massachusetts Ave. NW. Washington, D.C.

The transition to a low-carbon economy is a complex and multifaceted transformation process fraught with challenges and opportunities, unfolding against a backdrop of global economic uncertainty and energy security concerns. As the impacts of climate change intensify, countries face a trilemma between sustainability, affordability, and energy security. Innovations and green investments are reshaping the energy landscape, reducing costs and boosting productivity in low-carbon sectors. This leads us into a "mid-transition" period where fossil and low-carbon systems coexist, with potential tension. Understanding the dynamics of this mid-transition period is essential for creating the conditions for an accelerated shift to a low-carbon economy. Ministries of finance, in particular, play a pivotal role in leveraging opportunities and mitigating risks during this transition.

On April 16, the Global Economy and Development program at the Brookings Institution will host a high-level public event on the sidelines of the 2024 Spring Meetings of the International Monetary Fund and the World Bank Group. In collaboration with the Coalition of Finance Ministers for Climate Action (CFMCA) and the Coalition for Capacity on Climate Action (C3A) program, this event will provide a platform for global leaders and experts to exchange insights and experiences on this critical issue of our time. Additionally, the event will launch a competitive call for contributions to the inaugural C3A annual flagship symposium, scheduled for December 2024. This symposium will bring together the C3A research and policy networks to explore the role of finance ministries in the transition.

The event will start with introductory remarks from Brahima S. Coulibaly, vice president of Global Economy and Development at Brookings. Following his remarks, Minister of Finance of Indonesia, Sri Mulyani Indrawati, will deliver a keynote. The event will also include a moderated high-level panel discussion on the mid-transition period, followed by concluding remarks by C3A.