01 July 2025

The Call for Systemic Resilience: PAGE Side Event at FfD4

Seville, 1 July 2025 – Global finance leaders made a united call for systemic resilience to become the cornerstone of sustainable growth, job creation, and competitiveness. This key declaration was made at the side-event, Prosperity Through Resilience: Transforming Public Finance for a Thriving Future, co-hosted by PAGE, the Coalition of Finance Ministers for Climate Action (CFMCA), the Convention on Biological Diversity (CBD), and the Green Fiscal Policy Network (GFPN), during the 4th International Conference on Financing for Development.

Mr. Steven Stone, Deputy Director Industry and Economy Division from the United Nations Environment Programme moderated a panel of public finance and climate leaders from the governments of Brazil, South Africa, Sweden and Uganda.

Speakers

Hon. Mr. Matia Kasaija – Minister of Finance, Planning and Economic Development, Uganda
Hon. Mr. Matia Kasaija – Minister of Finance, Planning and Economic Development, Uganda
Hon. Mr. Matia Kasaija – Minister of Finance, Planning and Economic Development, Uganda
Mr. Kjell Forsberg - Assistant Director General, Trade, Private sector and Financial Instruments, Swedish International Development Cooperation Agency (SIDA)
Mr. Kjell Forsberg - Assistant Director General, Trade, Private sector and Financial Instruments, Swedish International Development Cooperation Agency (SIDA)
Mr. Kjell Forsberg - Assistant Director General, Trade, Private sector and Financial Instruments, Swedish International Development Cooperation Agency (SIDA)
Ms. Debora Freire – Under-Secretary for Fiscal Policy at the Secretariat for Economic Policy (SPE) of Ministry of Finance, Brazil
Ms. Debora Freire – Under-Secretary for Fiscal Policy at the Secretariat for Economic Policy (SPE) of Ministry of Finance, Brazil
Ms. Debora Freire – Under-Secretary for Fiscal Policy at the Secretariat for Economic Policy (SPE) of Ministry of Finance, Brazil
Ms. Dorah Modise – Executive Director, Presidential Climate Commission, South Africa
Ms. Dorah Modise – Executive Director, Presidential Climate Commission, South Africa
Ms. Dorah Modise – Executive Director, Presidential Climate Commission, South Africa
Mr. Asad Naqvi – Director, Implementation Support Division, Convention on Biological Diversity (CBD)
Mr. Asad Naqvi – Director, Implementation Support Division, Convention on Biological Diversity (CBD)
Mr. Asad Naqvi – Director, Implementation Support Division, Convention on Biological Diversity (CBD)
Mr. Nick Godfrey – Grantham Research Institute / London School of Economics (GRI/LSE)
Mr. Nick Godfrey – Grantham Research Institute / London School of Economics (GRI/LSE)
Mr. Nick Godfrey – Grantham Research Institute / London School of Economics (GRI/LSE)
Mr. Steven Stone – Deputy Director Industry and Economy Division, UNEP
Mr. Steven Stone – Deputy Director Industry and Economy Division, UNEP
Mr. Steven Stone – Deputy Director Industry and Economy Division, UNEP

Insights from the Panel Discussion

Hon. Matia Kasaija, Uganda’s Minister of Finance and CFMCA co-chair, emphasized that resilience must no longer be seen as a cost but as a profitable, long-term investment. He showcased Uganda’s impressive strides, highlighting several key initiatives:

· A climate-resilient road bypass that successfully kept trade flowing and students in school, even during severe floods.
· Climate-smart coffee production, which dramatically boosted yields by 75%, generating an additional $260 million in export earnings and creating over 56,000 jobs for young people.

Investments in digital connectivity that proved invaluable, preventing billions in losses during drought conditions by providing real-time market alerts.“This is not charity,” Minister Kasaija said. “These are fiscal assets that pay for themselves and deliver higher growth, healthier ecosystems, stronger businesses, and better public revenues.”

Other panelists reiterated this point.

Ms. Débora Freire, Deputy Secretary for Fiscal Policy at the Ministry of Finance, Brazil showcased fiscal reforms and tax policies driving Brazil’s ecological transition and circular economy.

Ms. Dorah Modise, Executive Director of the Presidential Climate Commission outlined how public finance is supporting job-rich, just transitions while unlocking private capital through blended finance.

Mr. Kjell Forsberg, Assistant Director General of the Swedish International Development Cooperation Agency (SIDA) shared how international cooperation is enabling ministries of finance to access catalytic finance and integrate systemic resilience into budgets and investments.

Highlighting Key Actions

Country-led approaches emerged as a common theme, where investment needs and financing opportunities are defined by national plans guiding their economic transitions, as exemplified by Brazil’s Ecological Transformation Plan. PAGE with its demand-driven approach has helped its partners shape national trajectories and build urgently needed capacities. The partnership was recognized for its well-tailored analytical support for assessing policy scenarios to guide action and investment.

The event spotlighted three key actions:
1. Design and deploy the ‘how’ — Use co-created tools, budget reforms, and innovative blended finance platforms.
2. Strengthen capacity at scale through regional centres of excellence, helping ministries integrate resilience into fiscal and debt strategies.
3. Build regional platforms such as an African Finance Ministers’ resilience platform to track progress, share tools, and promote peer learning.

Closing Remarks

Asad Naqvi from the Convention on Biological Diversity (CBD) and Nick Godfrey from the London School of Economics concluded the session by bringing to the fore: (1) systemic resilience is the unifying principle across climate, biodiversity, and development finance; (2) Ministries of finance must lead efforts to reorient financial systems towards sustainability.

Paving the Way Forward

This dialogue sets the stage for UNEA-7 in Nairobi, where governments will advance integrated solutions for a resilient planet — linking fiscal reform, climate ambition, and nature protection. The outcomes will also feed into CBD COP16 and UNFCCC COP30, underscoring the importance of aligning public finance with global goals for people, prosperity, and planet.