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 hosted 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 provided a platform for global leaders and experts to exchange insights and experiences on this critical issue of our time. Additionally, the event launched 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 opened with introductory remarks from Brahima S. Coulibaly, vice president of Global Economy and Development at Brookings. Then, Minister of Finance of Indonesia Sri Mulyani Indrawati delivered a keynote, followed by a moderated high-level panel discussion on the mid-transition period. The program closed with concluding remarks by C3A.
Registration is required to attend this event in person. Guests at Brookings are required to attest to their state of health before attending. Visitors may not enter the building if they are feeling ill for any reason, have any symptoms commonly associated with COVID-19, have recently tested positive for COVID-19 and do not yet meet the criteria to resume normal activities based on current CDC guidance, or have been advised by their healthcare professional or otherwise to not enter any space where some persons may not be vaccinated.
Laura CarvalhoDirector of Equity - Open Society Foundations,Member - C3A Scientific Advisory Committee,Associate Professor of Economics - University of Sao Paulo
@lauraabcarvalho
Nicholas SternChair - Grantham Research Institute on Climate Change and the Environment,Co-chair - C3A Scientific Advisory Committee
@lordstern1
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. 
Brahima Sangafowa Coulibaly Vice President and Director - Global Economy and Development, Senior Fellow - Global Economy and Development @BSangafowaCoul
Sri Mulyani Indrawati Minister of Finance of Indonesia, CFMCA Co-chair
Laura Carvalho Director of Equity - Open Society Foundations, Member - C3A Scientific Advisory Committee, Associate Professor of Economics - University of Sao Paulo @lauraabcarvalho
Nicholas Stern Chair - Grantham Research Institute on Climate Change and the Environment, Co-chair - C3A Scientific Advisory Committee @lordstern1
Laurence Tubiana CEO - European Climate Foundation, Co-Chair - C3A Scientific Advisory Committee @LaurenceTubiana
Vera Songwe Nonresident Senior Fellow - Global Economy and Development, Africa Growth Initiative @SongweVera
