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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Pakistan’s unprecedented climate shocks make it clear: regional cooperation for managing shared waters is desperately needed. To halt the increasing impacts on agriculture and livelihoods that cripple the country’s economy, diplomacy is of paramount importance. In our interview, Moeen Khan explains how territorial and ethnic tensions with India hinder much-needed transboundary solutions – and how the international community can help.
Environmental defenders in Brazil are at risk — last year, 57 were assassinated and the numbers are increasing. The UN has launched a new initiative to address the escalating violence. This article shows the challenges faced by an activist from the Amazon region who fights for justice, and it notes how the Brazilian government can save lives while preventing unregulated exploitation in the region.
Changes are occurring that could make climate action a driver of the domestic agenda for economic and social progress and for international cooperation. With the help of market forces and technological advances, the tide is moving toward climate action. Paul Joffe argues that a key to success is a strategy that draws public support and makes climate policy a force in a larger industrial renaissance.
The world can achieve slower climate warming, preventing temperatures from rising by more than 1.5˚C, a global scientific panel says. But time is short.