Climate Budget Tagging (CBT)

SDG(s)

Sustainable Development Goal(s)

12Responsible consumption and production

13Climate action

17Partnerships for the goals

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Type of the Solution

Policy, Financial tool

Affected Sector

Industry

Description of the solution

Climate Budget Tagging (CBT) is a financial management tool designed to help governments track and optimize their climate-related expenditures within public budgets. It aims to enhance the transparency and efficiency of climate finance and is a crucial component in integrating climate change considerations into broader fiscal policies and strategies.

Socio-economic effects

By ensuring targeted and effective use of climate-related funds, CBT enhances the impact of government spending on sustainable development goals, improves national resilience to climate impacts, and supports strategic climate policy implementations.

Type of Measure

2. policy/regulation measure

Type of sub-measure

5. (none)

Who led the solution

Local government, National government

Timescale of implementation

Long-term (5 and above)

Other Notes

https://www.undp.org/publications/knowing-what-you-spend-guidance-note-governments-track-climate-change-finance-their-budgets Georgia Case: https://blogs.worldbank.org/en/europeandcentralasia/budgeting-climate-change-action-lessons-georgia

Links to the solution

Consent to share form or official link.

SDG(s)

Sustainable Development Goal(s)

12Responsible consumption and production

13Climate action

17Partnerships for the goals

Comments

Solution note