On the 19th and 20th of June, Professor Phoebe Koundouri attended the Green Fiscal Policy Strategy Workshop held at Oxford University. The meetings brought together high-level participants, including Deputy Ministers, Heads of Fiscal Policy, and green policy advisors from 12 nations. Moreover, the gatherings featured the participation of 16 researchers from leading academic institutions and representatives from UN Regional Economic Commissions and the United Nations Environment Programme (UNEP).
The workshop comprised a series of strategy meetings aimed at establishing a research agenda focused on actionable solutions for green fiscal policy, tailored to the requirements of countries and practitioners:
• Set and maintain an action-oriented agenda for research in green public finance based on policy needs, providing specific outstanding questions
• Establish and convene global networks for mutual learning and collaboration
• Help governments establish visibility over domestic research capabilities in areas of green public finance
Prof. Koundouri’s contribution focused on the impact of fiscal policy on the Sustainable Development Goals (SDGs). During her speech, she highlighted the significance of SDG-consistent fiscal policy and emphasized the essential role of SDG-driven transformations in companies and portfolio asset management, particularly within the context of public-private partnerships (PPPs) and investment strategies. The UN SG SDGs Stimulus for Agenda 2030 puts forward areas for immediate action. These include:
1 Tackle the high cost of debt and rising risks of debt distress, including by converting short-term high interest borrowing into long-term (more than 30 year) debt at lower interest rates.
2 Massively scale up affordable long-term financing for development, especially through public development banks (PDBs), including multilateral development banks (MDBs), and by aligning all financing flows with the SDGs.
3 Expand contingency financing to countries in need.
