The OECD and the European Commission DG REGIO launched the project "Measuring and Enhancing Subnational Government Finance for Environment and Climate Action in OECD and EU Countries" in 2022.
Tracking climate revenue at subnational level
Supporting subnational government climate actions requires having a better understanding of the way they are funded and financed. The combination of public sources of revenue (e.g., grants, subsidies, user charges, tax revenue) and external sources of revenue (e.g., loans, loan guarantees and bonds) available to subnational governments frame their room for manoeuvre in implementing their climate plans. Subnational climate-revenue tracking is essential for assessing the financial role of subnational governments in the carbon-neutral transition in light of global, national and subnational climate objectives.