The Chairs started by welcoming new members of the Scientific Advisory Committees and the Countries and Partners Committees. Representatives from the World Bank, partner Universities and think tanks, the NDC Partnership, the ECLAC, CAREC and the Ministry of Finance of Brazil are now part of the C3A Advisory Committees. Relay the demand from countries and embody the diversity of the activities of C3A.

Key achievements of C3A have then be presented with a focus on country engagement. Presentation available for more information.

A discussion on the perspectives for C3A in FY2025 has been open.

Laurence Taubiana emphasized the need to minimize transition risks to ensure effective climate action. With a constrained fiscal space, she recommended embarking the Ministry of Finance in the discussion on long term strategies. She also stressed the importance of establishing robust investment plans to feed the updating process of NDCs to be submitted before COP30 .

Then, Nick Stern addressed the issue of investments and growth, countering arguments against increasing investments. He highlighted the Keynesian effect, where increased investments stimulate demand and foster economic growth. Also, he emphasized the importance of responsible borrowing for good investments, underscoring the need to maintain energy security. Finally, he discussed income distribution pressures on public finances and recommended carbon taxes and the removal of inefficient subsidies.

The discussions also underscored the critical issue of debt, which can hinder the transitiontowards a low carbon economy. Participants highlighted the need for fair and just climate policies to avoid resistance..

Additionally, the need for new analytical tools and economic models was underscored to effectively address modern financial and environmental challenges. These tools are necessary for accurate assessments and informed decision-making, both domestically and internationally.

This second Advisory Committees Meeting was a key moment for C3A, endorsing the achievements in FY 2024 and paving the way for enhanced ambition for FY2025. C3A would like to thank the members of its Advisory Committees, and particularly the co-chairs for their involvement and invalulable guidance.