While the International Monetary Fund has made great strides on climate change in a short time, emerging markets and developing economies need resources to invest in resilience more urgently than ever. There are four ways the IMF can help them shift to a low-carbon pathway and finance adaptation measures before it’s too late.
The International Monetary Fund's allocation of $650 billion in special drawing rights in August was welcomed, but its latest proposal for channeling finance to the most climate-vulnerable countries excludes the most needy, and is flawed.
The economics discipline has failed to understand the climate crisis – let alone provide effective policy solutions for it. Change is underway, but it cannot come fast enough.