Sri Mulyani Leads Global Finance Ministers in Discussing Earth’s Catastrophev

Finance Minister Sri Mulyani Indrawati is spearheading the 10th meeting of the Coalition of Finance Ministers for Climate Action, a global initiative aimed at addressing worldwide climate change. She co-chairs this meeting alongside Dutch Deputy Prime Minister and Finance Minister Sigrid Kaag.

An International Gathering for Climate Action

The 10th meeting, held in Marrakech, Morocco on October 11, 2023, saw the participation of 91 member countries of the coalition and 26 partner institutions. They have jointly released an inaugural statement emphasizing their commitment to tackle climate-related issues, develop environmentally friendly and sustainable taxonomies, and conduct financial risk assessments associated with climate change.

A Global Challenge that Unites Nations

“As time goes on, climate change issues are becoming increasingly critical. Recognizing this urgency, we, as finance ministers from around the world, are committed to addressing them seriously, as climate change is a global issue that affects us all,” stated Sri Mulyani, as quoted from her Instagram account @smindrawati on Thursday, October 12, 2023.

Sustainable Environment and Economy

Sri Mulyani revealed that during the meeting, several key topics were discussed. The first one revolved around environmental and economic sustainability. In this context, member countries made commitments to uphold the sustainability of their environment and economy.

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Balancing Sustainability

“Transition financing was agreed upon as one of the ways to balance the two,” said Sri Mulyani.

Government’s Role in Climate Action

The second topic centered on the role of governments. It delved into the government’s role as the primary driver of various sustainability efforts, encompassing tax policy reforms, the establishment of relevant committees, and the issuance of green bonds.

Innovating for a Greener Future

The third topic focused on innovation and measurement. It addressed the innovation and measurement methods that countries adopt to ensure that sustainable objectives are met.

Collaboration for Climate Resilience

The fourth topic concerned collaboration. According to Sri Mulyani, collaboration is of utmost importance, both domestically and globally. Global institutions play a significant role in coordinating and harmonizing efforts to combat climate issues.

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Milestone in Global Climate Action

“I am deeply impressed by this meeting. The discussions that took place serve as evidence of the enormous potential we possess when we continue to collaborate and innovate in tackling climate change,” said Sri Mulyani.

Continued Commitment to Our Planet

All these discussions will be further elaborated upon during the Finance Day at COP28, scheduled to be held in Dubai in December 2023. Sri Mulyani noted that COP28 would be a crucial milestone in the history, serving as the foundation for collective global climate action.

Guardians of Our Planet

“We unanimously agree to prioritize climate resilience policies, sustainable investments, and fiscal policies that will continue to safeguard our planet, now and in the future!” emphasized the former Managing Director of the World Bank.

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