The International Monetary Fund is to start factoring in climate change to its macroeconomic models from next year, Climate Home has learned. That means its much-cited World Economic Outlook could expose how moves to curb greenhouse gas emissions threaten growth in oil-exporting countries, for example. The Washington DC-based IMF is the world’s leading authority on financial stability, boasting significant influence in the 188 countries it counts as members.
In May, it released a controversial study suggesting fossil fuel subsidies were worth US$5.3 trillion a year. In August, it urged Saudi Arabia to diversify its economy away from oil. Christine Lagarde, head of the organisation, has repeatedly called for carbon pricing to encourage green investment.
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In an increasingly urbanised world, global resilience cannot be achieved without cities. Separating a local from a national or international sustainability issue is increasingly difficult – be it climate change, migration, or economic development.
Climate diplomacy needs to release itself from the shackles of ‘systemic’ politics in order to achieve a climate agenda that is driven by human security interests, including equity and justice, and strengthen climate change initiatives at local, national and regional levels, in order to bridge the gap caused by the slow pace of progress at the international level.
Leaving No One Behind is the mantra of the 2019 UN-Water campaign. Foreign policy agendas of countries should apply the principle and integrate the voices of the most marginalised into the decision-making process, argues Dhanasree Jayaram.
With climate change increasingly being seen as a security issue, we ask what role the United Nations Security Council could and should play. To answer this question, we are joined on the Climate Diplomacy Podcast by UN expert and Chatham House Associate Fellow Oli Brown. In this podcast, Oli explains some of the challenges that the UN Security Council has had in tackling climate change and outlines the prospects for action in the future.