Make or Break? Mainstreaming Climate Policy at the IMF

As the only multilateral, rules-based institution charged with promoting the stability of the international financial and monetary system, the International Monetary Fund (IMF) has a central role to play in the transition to a low-carbon and resilient global economy.

The 2021 United Nations Climate Change Conference (COP26) in Glasgow this November aims to reinvigorate efforts to limit global warming to no more than 1.5 degrees. The IMF’s surveillance, lending and capacity building roles provide an unparalleled connection to the finance ministries and central banks of virtually every nation. Consequently, how nations seek to meet their climate commitments will be shaped – or even limited – by the Fund.

Additionally, discussions at the G20 and other ministerial meetings are ongoing for an IMF-held Resilience and Sustainability Trust to channel a portion of this year’s $650 billion allocation of Special Drawing Rights towards climate initiatives, meaning the IMF would oversee potentially tens of billions of dollars in climate-related financing that could be crucial to fulfilling the ambitions of the COP26 meetings.

With its universal role and influence over economic policy, the Fund can make or break countries’ COP26-related commitments, raising questions like, how should the Fund mainstream climate change policy into its work? And capitalizing on the COP26, what priorities should shape the IMF’s new climate strategy? How can developing countries ensure the Fund’s approach protects a green and inclusive recovery?

On Thursday, November 18 from 9:30:10:45 AM ET // 15:30-16:45 CET, join the Boston University Global Development Policy Center and Recourse for an expert webinar discussion on the role of the IMF in responding to the global climate crisis.

Speakers:

• Sara Jane Ahmed: Finance Advisor, Vulnerable Twenty (V20) Group of Ministers of Finance of the Climate Vulnerable Forum

• Laveesh Bhandari: Senior Fellow, Center for Economic and Social Progress

•Shona E. Riach, Executive Director for the United Kingdom, International Monetary Fund

• Sargon Nissan: IMF Programme Lead, Recourse

• Daniel Titelman: Director of Economic Development Division, United Nations Economic Commission for Latin America and the Caribbean (ECLAC)