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dc.titleThe State of Fiscal Policy for Climate Action: 2023 Baseline Survey for Latin America and the Caribbean
dc.contributor.authorEguino, Huáscar
dc.contributor.authorAlvarenga, Marcio
dc.contributor.authorGonzáles Carrasco, Luis
dc.contributor.orgunitFiscal Management Division
dc.contributor.orgunitInstitutions for Development Sector
dc.coverageChile
dc.coverageColombia
dc.coverageCosta Rica
dc.coverageLatin America
dc.coverageSouthern Cone
dc.coverageSouth America
dc.date.available2024-07-16T00:07:00
dc.date.issue2024-07-16T00:07:00
dc.description.abstractMinistries of economy and finance (MEFs) play an increasingly important role in the climate agenda since fiscal policy decisions have a major impact on the behaviors of economic agents and shape countries development prospects. In this context, it is helpful to establish the extent to which MEFs are mainstreaming climate action into fiscal policy, whether they are doing so comprehensively or partially, which areas of fiscal policy show the greatest progress or gaps, and which countries in Latin America and the Caribbean (LAC) show the most progress and which the least. This report seeks to address these questions through a survey conducted in 2023 on 41 variables using data available on the official websites of government agencies or international organizations. The main findings of this study are the following: (i) the vast majority of MEFs in the LAC region have made some progress on mainstreaming climate action into fiscal policy/management, although very few do so in a comprehensive manner; (ii) from a comparative standpoint, the greatest progress has been made on strategic planning, macroeconomic fiscal management, and revenue policy and management; (iii) the least progress is observed in financing policy and expenditure policy/management; and (iv) among LAC countries, the top three performers are Chile, Colombia, and Costa Rica, despite major climate fiscal policy reforms pending in these countries. In conclusion, the information compiled can be useful for monitoring and evaluating future MEF actions in the area of climate change, and this report seeks to take the first step toward establishing a baseline in this regard.
dc.format.extent51
dc.identifier.doihttp://dx.doi.org/10.18235/0013059
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/The-State-of-Fiscal-Policy-for-Climate-Action-2023-Baseline-Survey-for-Latin-America-and-the-Caribbean.pdf
dc.identifier.urlhttps://publications.iadb.org/publications/spanish/document/Situacion-de-las-politicas-fiscales-para-la-accion-climatica-relevamiento-de-linea-de-base-2023-para-America-Latina-y-el-Caribe.pdf
dc.language.isoen
dc.publisherInter-American Development Bank
dc.subjectFiscal Policy
dc.subjectMinistries
dc.subjectTaxation
dc.subjectClimate Change
dc.subjectClimate Policy
dc.subjectNationally Determined Contribution
dc.subjectPublic Expenditure
dc.subjectClimate Risk
dc.subjectEconomy
dc.subjectClimate Finance
dc.subjectCarbon Tax
dc.subjectSubsidy
dc.subjectFinance
dc.subjectParis Agreement
dc.subjectGovernance
dc.subjectFossil Fuel
dc.subjectStrategic Planning
dc.subjectClimate Change Mitigation
dc.subject.jelcodeH11 - Structure, Scope, and Performance of Government
dc.subject.jelcodeH23 - Externalities • Redistributive Effects • Environmental Taxes and Subsidies
dc.subject.jelcodeH43 - Project Evaluation • Social Discount Rate
dc.subject.jelcodeH50 - National Government Expenditures and Related Policies: General
dc.subject.jelcodeH57 - Procurement
dc.subject.jelcodeH60 - National Budget, Deficit, and Debt: General
dc.subject.jelcodeH61 - Budget • Budget Systems
dc.subject.jelcodeH81 - Governmental Loans • Loan Guarantees • Credits • Grants • Bailouts
dc.subject.jelcodeO21 - Planning Models • Planning Policy
dc.subject.jelcodeO22 - Project Analysis
dc.subject.jelcodeO54 - Latin America • Caribbean
dc.subject.jelcodeQ50 - Environmental Economics: General
dc.subject.jelcodeQ54 - Climate • Natural Disasters and Their Management • Global Warming
dc.subject.keywordsclimate change;mitigation;adaptation;Fiscal policy;fiscal management;sustainability fiscal;planning;Budget;public investment;contracting;taxation;subsidies;climate financing;climate governance
dc.typeTechnical Notes
idb.identifier.pubnumberIDB-TN-02968
idb.operationRG-T4163
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