The Inter-American Development Bank (IDB) has published a new document that presents two cases studies (Paraguay and Costa Rica) of the assessment methodology for climate change public financial management (PEFA Climate) that, together, illustrate how to design a roadmap to integrate climate theme into the planning, programming, execution and accountability of public resources.

The work is structured into five main sections: i) the review of the importance of public financial management (PFM) for climate action; ii) the presentation of the PEFA Climate diagnostic tool; iii) the main results of the application of PEFA Climate in Paraguay and Costa Rica; iv) lessons learned from the application of PEFA Climate, and v) a set of final considerations on the actions that could be followed to integrate the climate dimension into PFM.

The document reflects the progress of the working group on public expenditure management and climate change (Working Group 3), which was established within the framework of the Regional Climate Change Platform of the Ministries of Treasury, Economy and Finance.