The finance programme aims to transform Italy’s public and private financial system, aligning it with the Paris Agreement to drive the ecological transition. It will draw from international progress on climate risk disclosure, the adoption of the European taxonomy, and commitments to align public spending and private portfolios with the goals of net-zero emissions, resilience, fossil fuel exclusion and increased green investments. This will be done through a dialogue and the leveraging of international best practices with major national financial institutions including CDP, SACE and Invitalia. The finance programme will also develop a proposal for environmental tax reform concurrent with the debate on reforming the European Stability Pact and achieving the objectives of the European Green Deal.
Moving towards a holistic transition planning framework in the EU
November 2024
This briefing, authored by ECCO and E3G, takes stock of the EU transition planning framework initiatives and calls for a systemic approach – moving towards a simple and holistic transition planning framework that aligns various governance systems and policy tools within the EU, while ensuring consistency with international climate goals such as the Paris Agreement.
Towards an international climate and development tax system: perspectives and opportinities
October 2024
The climate crisis and its associated costs have contributed substantially to placing international tax
cooperation high on the international agenda. Taxation can facilitate the energy transition
by disincentivising the use of fossil fuels; create additional resources to tackle climate change;
contribute to climate justice by taxing fossil-intensive activities in the most polluting countries and
allocating revenues to countries most vulnerable to climate change.
Monetary policy and climate transition: what can the ECB do for the European Green Deal?
September 2024
The European Central Bank (ECB) and the National Central Banks (NCBs) play a crucial role in the transition towards a net zero economy. This report analyses the actions of the European Central Bank with the aim of identifying ways in which the existing institutional structure and current macroeconomic context could allow it to provide more effective support to the European Green Deal.
Climate risks and banks’ capital requirements. A lever for the transition?
July 2024
Empirical evidence shows that capital requirements have a significant influence on both the volume of credit and the level of bank interest rates, and demonstrates that the use of macroprudential capital requirements can play a decisive role in mitigating the risks of transition generated by aggressive decarbonisation policies. These findings therefore show that macroprudential policies are a necessary complement to other climate policies in order to reduce the exposure to risk of financial intermediaries.
Italy and the debt crisis: what implications for the partnership with Africa
June 2024
In recent years, Italy has demonstrated a growing interest in the African continent, culminating with the Italy-Africa Summit in January 2024. In order to develop a mutually beneficial partnership with Africa, through the Mattei Plan and the leadership earned through the 2024 G7 presidency, Italy must listen and respond to the needs expressed by its African partners, which include a series of reform proposals of the international financial architecture.
G7 Financial Ministerial: the critical role of transition plans and the need for a systemic approach to finance
May 2024
G7 finance and climate tracks should align their strategy, find a common position and support a systemic approach to defining and financing national transition plans. Such a systemic approach developed by G7 is critical to give confidence, build trust and inform next set of finance and climate decisions at COP29 and COP30 on the New Collective Quantified Goal on Climate Finance (NCQG) and the Nationally Determined Contributions (NDCs).
Italian G7 Presidency: the critical role of Transition Plans and the need for a systemic approach to finance
May 2024
Given the imperative to mobilize private investment at the scale required to address climate change, the effective deployment of funding, policies, and frameworks becomes paramount. In this context, it is imperative to place Transition Plans (TPs) at the heart of the G7 finance agenda as primary tools to re-orient and re-design private and public choices towards resilient and sustainable economic systems.
A European sovereign fund for the climate transition
May 2024
For the European Union, the estimated investment needed to implement the Green Deal would require a total annual investment in the 2021-2030 period of approximately 1,285 billion per year, equal to 8% of GDP of the EU in 2022. The setting up of a European energy and climate fund is therefore legally and technically feasible, and should be a decisive theme of political debate, particularly in light of the upcoming European Parliamentary elections and the renewal of the Commission.
The investment imperative and the debt roadblock: proposals for the G7
February 2024
This policy briefing, prepared by ECCO and E3G, examines the relationship between debt and climate at a pivotal moment for transforming the international financial architecture and for ensuring finance flows towards climate growth opportunities. Italy can play a key role in shaping a more resilient and sustainable future for Africa through both its G7 Presidency and the Mattei Plan.
A fair share of climate finance? The adaptation edition
November 2023
The report developed by ODI to which this briefing refers - 'A fair share of climate finance? The adaptation edition' - looks at the climate finance provided in 2021 to evaluate each country’s progress against the $100 billion goal. In addition, we produce new evidence to evaluate each country’s adaptation finance provision against the aim of at least doubling adaptation finance from 2019 levels by 2025, which we set at $40 billion – double the $20 billion reported in 2019.
How much investment is needed for the decarbonisation of the Italian economy?
September 2023 WRITTEN BYMario Noera et al.
A propaedeutic analysis for the revision of the National Energy and Climate Plan (NECP). Estimates of the total investment that Italy needs in order to align with the new European Fit-for-55 targets range between an average of EUR 122 and EUR 134 billion per year. The additional investments needed are therefore EUR 30-42 billion per year higher than estimated in the NECP (2019), and 2-3 times higher than the amount allocated in the NRRP for the green transition in the 2021-26 five-year period (an average of EUR 14.4 billion per year).
Italy ahead of the G20 and Cop26
October 2021
Ahead of the G20 Heads of State and Government Summit in Rome and COP26 in Glasgow, we analysed and identified Italy's climate finance commitments.
