Those attending the organisation’s annual two-day ministerial council meeting that began in Paris last Tuesday were finance, economy, trade and other ministers, including those from two OECD ‘accession countries’, Colombia and Latvia, who also signed the statement.

Describing climate change as one of the world’s greatest economic challenges, ministers and representatives from the 36 countries agreed to step up efforts to achieve the economic transformation necessary to deliver sustainable growth. This included greater incentives for private investment in low-carbon infrastructure, fostering green goods and services and phasing out fossil fuel subsidies.

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