As the only multilateral, rules-based institution charged with promoting the stability of the international financial and monetary system in order to enable longer-run growth, the International Monetary Fund (IMF) has a central role to play in the transition to a low carbon and resilient global economy.
The Task Force on Climate, Development and the International Monetary Fund is a consortium of experts from around the world convened to advance a development-centered approach to climate policy at the International Monetary Fund (IMF). It is imperative that the global community support climate resilience and transition to a low-carbon economy in a just manner, and the IMF’s role in supporting a globally coordinated response is vital. The Task Force will engage in and utilize rigorous, empirical research to inform policies that align international financial stability and growth with global climate goals.
The Task Force launched on October 4, 2021 with two inaugural publications:
- A strategy report proposing a framework for the IMF to help facilitate just, green transitions for member countries.
- A policy brief presenting a structure for the IMF’s proposed Resilience and Sustainability Trust to help distribute the historic $650 billion in Special Drawing Rights for rebuilding the global economy.
Recognizing that a shift into the climate policy landscape will require significant reform to the IMF’s surveillance and advisory functions and finance toolkit, the Task Force will produce a series of research products while engaging in critical policy dialogue to provide empirical, rigorous research that can inform this transition.
- Intergovernmental Group of 24 (G24)
- Vulnerable Group of 20 (V20) Ministers of Finance
- African Center for Economic Transformation
- African Economic Research Consortium
- Boston University Global Development Policy Center
- Centre for Policy Dialogue
- Centre for Social and Economic Progress
- Financial Futures Center
- Macro and Green Finance Lab, National School of Development, Peking University
- United Nations Economic Commission on Latin America and the Caribbean