Our latest webinar, Behind the policy: How finance ministries are shaping climate-related fiscal strategies, brought together finance ministries and investors to discuss how climate-related risks and opportunities are being integrated into fiscal and debt management strategies, and how these policy signals inform investment and transition finance decisions.
Sovereign climate risks and opportunities sit at the intersection of fiscal policy and climate change, and finance ministries are increasingly at the centre of it. The Coalition of Finance Ministers for Climate Action (CFMCA) plays a central role in advancing international cooperation among finance ministries to aligning fiscal and economic planning to the Paris Agreement goals.
Investors, in turn, are seeking clearer signals on how countries are integrating climate risks and opportunities into their economic plans and debt strategies. The TPI Centre's ASCOR framework, an independent sovereign climate assessment framework covering 85 countries, was developed to help equip investors with this information.
This session paired presentations on the ASCOR framework and the CFMCA's policy priorities with a panel discussion exploring what finance ministries and investors each need from one another, to better integrate sovereign climate risk into policy and investment decisions, as well as fostering a two-way dialogue exchange, to build mutual understanding between finance ministries and investors on climate-related fiscal and financial priorities.
As ever, we welcome feedback.

State of the Sovereign Transition 2025
The second edition of our annual sovereign report, assessing the climate change performance of 85 countries
11/11/2025
Read the full reportOpening remarks
Sam Mugume Koojo
Assistant Commissioner, Macroeconomic Policy Department; Co-Chair

Nick Godfrey
Distinguished Policy Fellow




