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This report presents developments of the work of the Inclusive Forum on Carbon Mitigation Approaches (IFCMA) to the G20 Finance Ministers and Central Bank Governors, and reflect on the IFCMA’s achievements one year on from its launch in February 2023.

This scoping note presents a high-level overview of the main approaches to, and challenges faced when, calculating product-level carbon intensity metrics, including those applicable to collecting and verifying information across the supply chain. Though the analysis focuses on approaches used in emissions-intensive trade-exposed sectors (EITE), the findings also have broader relevance to other sectors. As part of the analysis, challenges relating to computing sector-level carbon intensity metrics are also considered, particularly as inputs to product-level metrics.

Many ocean economic activities are not readily visible in official statistics, hindering policymakers' access to crucial information for decision making. The OECD ocean economy measurement project aims to address this by aligning ocean economy statistics with broader economic data and ensuring international consistency. This paper compares the measurement strategies of eight OECD member countries using principles from the system of national accounts. It also highlights the ocean economy thematic accounts of four countries and summarises their methods. The paper concludes with recommendations for integrating ocean economy measurements with national accounting standards, a vital step for improving the evidence base for ocean policymaking.

As countries scale up climate action, they face the challenge of expanding renewable power while tackling biodiversity loss. Transitioning away from fossil fuels can reduce climate-related pressure on biodiversity, but brings its own risks. Unless carefully managed, the expansion of renewable power could compromise biodiversity. This report synthesises evidence on biodiversity impacts from renewable power infrastructure, with a focus on solar power, wind power and power lines. It identifies opportunities for mainstreaming biodiversity into power sector planning and policy to deliver better outcomes for nature and the climate. Drawing on good practice insights from across the globe, the report offers governments recommendations to align renewable power expansion with biodiversity goals.

Reaching climate neutrality requires economic transformations of unprecedented scale and speed. Immediate action from the business community can avoid unnecessary costs, create wellbeing co-benefits and prepare local businesses with a better competitive position in the future climate neutral economy. This report shows what reaching climate neutrality by 2040 means for Hamburg businesses and identifies key actions they need to undertake. It provides insights where the Hamburg economy and its businesses stand on the way to climate neutrality and on their needs to advance, drawing on a business survey. The study also shares insights from action plans of selected comparison cities. It points to cross-sector as well as to sector-specific challenges and opportunities for Hamburg businesses. This includes making better use of low-cost renewables, addressing energy efficiency in buildings as well as challenges and opportunities in activities in and around the port and in industry. It highlights Hamburg's potential as a hydrogen hub as well as the need to adopt circular economy practices. It illustrates that a regional and business perspective are necessary to achieve climate neutrality in prosperity, requiring individual and collective business action.

The frequency and severity of extreme wildfires are on the rise in the United States, causing unprecedented disruption and increasingly challenging the country’s capacity to contain losses and damages. These challenges are set to keep growing in the context of climate change, highlighting the need to scale up wildfire prevention and climate change adaptation. This paper provides an overview of the United States’ wildfire policies and practices and assesses the extent to which wildfire management in the country is evolving to adapt to growing wildfire risk under climate change.

The paper analyses the current system of environmental taxation and environmental expenditure in Ukraine, identifies issues in the way environmental tax policy is currently designed and implemented and highlights main areas where environmental taxation and expenditure could be improved. It uses data on environmental tax revenue and budgets from expenditure reports of the State Treasury Service of Ukraine over the period 2010 - 2020. Where available, preliminary data for 2021 were also included. The paper aims to support the government of Ukraine in reforming environmental taxation and public funding for environmental protection. Ukraine’s Post-War Recovery and Reconstruction Plan outlines ambitious plans for reform, including in the environmental domain. It envisions restructuring the current environmental tax system, expanding it to energy and transport and harmonising it with that of the European Union. It also foresees an analytical study systematising current taxes and payments in line with Eurostat classification standards. This paper can support these efforts.

The paper presents the understanding of and attitudes towards climate change and climate policies in Ukraine, using a survey on a representative sample of more than 1 500 Ukrainians. The survey was carried out between October 2021 and February 2022 and presents the situation before Russia’s large-scale invasion of Ukraine. The survey tests support for three main climate policies in detail: a green infrastructure programme, a carbon tax with cash transfers and a ban on combustion-engine cars. It shows that support for climate policies depends on three key factors: how people perceive the effectiveness of the policies in reducing emissions, how they perceive distributional impacts on lower-income households (inequality concerns), and if they think their household will gain or lose from the policy. The survey also shows that when citizens receive information that specifically addresses these concerns, they exhibit stronger support for the policy. How the policy is designed also matters: Ukrainians widely accept a carbon tax when its revenues finance green investments and/or compensate lower-income households. The paper highlights seven considerations for Ukraine policymakers to design measures that are effective and supported by citizens. Following Russia’s war of aggression and once conditions are right, Ukrainian policymakers can also use the survey results to guide the reform of the environmental tax system- one of the goals in Ukraine’s recovery and reform agenda. The survey in Ukraine that the paper describes was conducted as part of a large-scale OECD international survey of attitudes toward climate policies carried out on over 40 000 respondents in twenty countries.