Austria launches Green Budgeting Alliance at COP28: Austrian …

Austria launches Green Budgeting Alliance at COP28: Austrian …

DUBAI - Austria has established a Green Budgeting Alliance that will promote green budgeting to bridge between budget and climate policy, Magnus Brunner, Austrian Finance Minister, who is heading his county’s delegation to COP28, told the Emirates News Agency (WAM). “The method of Green Budgeting is still in its early stage. Therefore, we think that peer-to-peer learning between Parties with the aim of unifying strategies, standardising methods, and magnifying impact is key. It is, therefore, my privilege to announce this alliance,” he said on the sidelines of the UN Climate Change Conference (COP28) in Dubai. Alliance partners Asked about the members of the Alliance, the minister said he already approached the EU Commission last week and called for a coordinated green budgeting approach for Europe. “The Austrian Ministry of Finance is already holding talks with the other countries that are members of the Coalition of Finance Ministers for Climate Action. The first members will be announced in the coming weeks.” Recognising the challenge presented by the goals of the Paris Agreement, also from a budgetary perspective, Austria sees a clear necessity to expand the discussion on green budgeting, he said while elaborating on the importance of this topic. “In this