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It has been said that the best preparation for tomorrow is doing your best for today. When the President of the French Republic confirmed France’s participation in the Paris Collaborative on Green Budgeting in December 2017, he could hardly have known that, less than three years later, green budgeting would become a central tool for developing France’s “green recovery” from a global pandemic. At the meeting of the Paris Collaborative on Green Budgeting earlier this month, French Treasury officials showcased to delegates from across the OECD how the government had used this tool to identify environment-compatible spending that helped France meet its goal of dedicating EUR 30 billion of its COVID-19 recovery plan to a green transition.

With the introduction of green budgeting, France can now identify how budget measures affect key environmental objectives. This autumn, the country tabled its first “green budget” alongside the Finance Bill for 2021. This is the world’s first budget to document both the positive and negative impact of measures on key aspects of the environment.

France is not the only country to use green budgeting to support a green response to the COVID-19 pandemic. Preliminary results of an OECD survey show that over half of OECD countries plan to use green budgeting tools to integrate green perspectives in recovery packages. In addition to green budget tagging used by France, countries will carry out environmental and climate impact assessments of individual measures or attach green conditionality to support measures. Some countries, such as Colombia, Denmark, Latvia, Portugal, and Spain, plan to go further and propose an assessment of how the recovery package as a whole affects environmental and climate objectives.