What is the IMF doing to help tackle climate change?

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November 2024 Dear Reader, Climate change presents a major threat to long-term growth and prosperity, and has a direct impact on the economic wellbeing of all countries. The IMF has an important role to play in helping its members institute fiscal and macroeconomic policies to help address these climate-related challenges. We are mainstreaming climate-related risks and opportunities into our macroeconomic and financial policy advice. Climate considerations are now embedded in our bilateral and multilateral surveillance, capacity development, and lending. We also increasingly collaborate with other organizations on climate issues. Through our analytical work we have examined policy issues such as an international carbon price floor, the transition to a green economy, border carbon adjustments, scaling up private climate finance in emerging market and developing economies, strengthening climate information architecture, fiscal policies to support adaptation, and green public investment and public financial management. Read our latest research on how we help countries reduce emissions, increase climate finance, boost resilience, and ease the transition to low-carbon economies. Would you enjoy receiving the latest published IMF books and research papers, straight to your inbox every month? Subscribe to IMF’s New & Noteworthy monthly newsletter today! — IMF Publications Destination Net Zero: The Urgent Need for a Global Carbon Tax on Aviation and Shipping Productivity must play a more important role in driving sustained growth as societies age. But there’s no consensus on how to reverse the broad slowdown in productivity growth seen across almost all countries over the past 20 years. F&D magazine’s September issue invites leading thinkers to examine productivity from multiple angles, including dynamism, innovation, demographics, and sustainability. READ MORE Embedded in Nature: Nature-Related Economic and Financial Risks and Policy Considerations The economy is embedded in, and dependent on, nature. Yet economic activity is degrading nature at an unprecedented pace. Interacting with climate change, nature loss and transformation generates significant threats to the global economy and financial system. However, work on the implications of nature-related risks for macroeconomic and financial sector policies remains at an early stage. READ MORE Harnessing Renewables in Sub-Saharan Africa: Barriers, Reforms, and Economic Prospects To achieve universal electricity access and rapid economic development, Sub-Saharan Africa must accelerate its electricity generation. Despite rising incomes, electricity production per capita has declined. Leveraging renewable energy, supported by climate finance and policy reforms, can boost both power generation and GDP. READ MORE Policies to Foster Green FDI: Best Practices for Emerging Market and Developing Economies Foreign direct investment (FDI) plays a key role in emerging market and developing economies’ ability to finance green projects. Combining econometric evidence and case studies, this SCN explores how climate policies, domestic and international, can help attract FDI in green projects. READ MORE Sleepwalking to the Cliff Edge? A Wake-up Call for Global Climate Action Urgent action to cut greenhouse gas (GHG) emissions is needed now. Early next year, all countries will set new emissions targets for 2035 while revising their 2030 targets. Global GHGs must be cut by 25 and 50 percent below 2019 levels by 2030 to limit global warming to 2°C and 1.5°C respectively. But current targets would only cut emissions by 12 percent, meaning global ambition needs to be doubled to quadrupled. Further delay will lead to an ‘emissions cliff edge’, implying implausible cuts in GHGs and putting put 1.5°C beyond reach. READ MORE IMF | Publications To purchase print, please visit IMF Publications on Amazon. For more information about IMF Publications email [email protected].

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