Tracking national and subnational government climate actions through their functional expenditure (COFOG)

Dec 6, 2023 | 2:00 PM - 3:30 PM

Cities & regions Finance & econ instruments Data & tracking

Description

Monitoring progress towards meeting the Paris Agreement requires improving the tracking and measurement of public climate-significant expenditure, including investment, at all levels of government. The current system to classify public spending according to functions of government, or COFOG, was developed under the framework of the International System of National Accounts. While this system enables international harmonisation and comparability, there is broad consensus that the COFOG, which is now more than 20 years old, is no longer fit for the purpose. This is especially the case with respect to cross-cutting issues of special and increasing interest to policymakers in the environmental field, such as climate, biodiversity, integrated water management, and the circular economy. This session, jointly organised by the OECD’s Centre for Entrepreneurship, SMEs, Regions and Cities and the OECD’s Environment Directorate, will discuss on-going work to overcome the limitations of the COFOG, in the context of the experience and lessons learnt from pilot tracking exercises at national and subnational government levels, and how this can better support the action of policy-makers at all levels towards the net zero transition.

Moderated by

Nadim Ahmad

OECD's Centre for Entrepreneurship, SMEs, Regions and Cities

Deputy Director

https://www.linkedin.com/in/nadimahmad/

Speakers

Alessandra Alfieri

International Monetary Fund

Assistant Director, Statistics Department

Isabelle Chatry

OECD Centre for Entrepreneurship, SMEs, Regions & Cities

Head of Unit

https://www.linkedin.com/in/isabelle-chatry-chatrie-6251a42a/

Raul Delgado

Interamerican Development Bank

Senior Economist

https://www.linkedin.com/in/raul-delgado-35033b73/

Rodrigo Pizarro

OECD

Program Lead

https://www.linkedin.com/in/rodrigo-pizarro-gariazzo-5998241b7/

Kata Tüttő

European Committee of the Regions

Deputy Mayor of Budapest

Find out more Related resources

Given the urgency of the climate crisis, it is more important than ever to improve our understanding of the financial role of subnational governments in the transition, to track the progress regions and cities are making towards achieving the Paris Agreement commitments and other green objectives, and to identify areas where further action is needed to align their expenditure, investment and revenues with their climate goals and mobilise additional sources of finance.

The OECD International Programme for Action on Climate (IPAC) supports country progress towards net-zero greenhouse gas (GHG) emissions and a more resilient economy by 2050. Through regular monitoring, policy evaluation and feedback on results and best practices, IPAC helps countries strengthen and co-ordinate their climate action. It complements and supports the UNFCCC and the Paris Agreement monitoring frameworks.

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