OECD Secretary General Highlights Why Finance Ministers Should Take Action on Climate Change

Angel Gurría, Secretary-General of the OECD 8 December 2008: The Organisation for Economic Co-operation and Development (OECD) Secretary General, Angel Gurría, participated in a high level meeting of Ministers of Finance in Poznań, Poland, on the sidelines of the 14th session of the Conference of the Parties to the UNFCCC, and highlighted that the engagement of finance ministers in the fight against climate change is essential.

He explained that this engagement is essential in order to: ensure

least-cost policies are effective; design and implement carbon dioxide

emission trading schemes or taxes; reform potentially harmful “green”

subsidies; implement reforms aimed at eliminating fossil fuel

subsidies; and oversee the use of fiscal instruments for “competitive”

effects of mitigation policies.

He stressed the need to implement

cost-effective policies combined with price-based instruments, and

underscored that Ministers of Finance share a common responsibility to

shape cost-effective policies with both mitigation and adaptation

policies. [The Statement]