## Strengthening Infrastructure Governance for Climate-Responsive Public Investment

_Policy Papers, December 22, 2021_

## Source details

**Canonical URL:** [Strengthening Infrastructure Governance for Climate-Responsive Public Investment](https://www.imf.org/en/publications/policy-papers/issues/2021/12/22/strengthening-infrastructure-governance-for-climate-responsive-public-investment-511258)

## Other formats

- [Markdown version](/en/publications/policy-papers/issues/2021/12/22/strengthening-infrastructure-governance-for-climate-responsive-public-investment-511258/index.md)
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## Bibliographic details
- Published: December 22, 2021
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9781616355098.007

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### Context and Rationale
- Countries have committed, through the Paris Agreement and the Sustainable Development Goals (SDGs), to pursue climate targets and policies that would limit global temperature rise to well below 2 degrees Celsius, compared to pre-industrial levels.
- A shift toward green public investment will help to mitigate greenhouse gas (GHG) emissions.
- Substantial public investment will be necessary to build public infrastructure that makes economies more resilient to climate change and related natural disasters.
- Climate change mitigation and adaptation challenges compound preexisting needs for public investment to foster the economic recovery from the pandemic and to meet the SDGs in a broader range of areas, often in a context of limited fiscal space.
- Against this backdrop, a priority for all countries is to manage their public investment efficiently and effectively.

### Existing Framework and Gap
- The IMF developed in 2015 the Public Investment Management Assessment (PIMA), which has already been applied in over 70 countries.
- The current PIMA does not provide a sufficiently tailored assessment of how public investment management can support climate change mitigation and adaptation.

### New Module: Climate-PIMA (C-PIMA)
- This paper introduces a new module to the current Public Investment Management Assessment (PIMA) framework, the “Climate-PIMA” (C-PIMA).
- Goal of C-PIMA: to help governments identify potential improvements in public investment institutions and processes to build low-carbon and climate-resilient infrastructure.

### Summary Findings (as described in the source)
- Climate change mitigation and adaptation require a redirection and scaling of public investment while managing constrained fiscal space.
- Improving institutions and processes for infrastructure governance (the planning, allocation, and implementation of public investment) is a priority to achieve climate-responsive public investment.

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## Content in this bundle

- **ppea2021076**
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_Source: https://www.imf.org/en/publications/policy-papers/issues/2021/12/22/strengthening-infrastructure-governance-for-climate-responsive-public-investment-511258_