Climate change and policy responses to climate change pose significant risks to financial and fiscal stability, poverty and inequality, and the long-run growth prospects of the world economy. In August 2021, the sixth UN-appointed Intergovernmental Panel on Climate Change (IPCC) report raised the alarm that global warming will accelerate at a pace unparalleled in human history over the coming decade, all but ensuring an increase beyond 1.5°C from pre-industrial levels. This news came during a summer marked by extreme weather events unprecedented in their frequency and severity, leaving economies and communities across the globe are already reeling at just a 1.1°C increase.

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.

To that end, the Task Force on Climate, Development and the International Monetary Fund is a consortium of experts from around the world utilizing rigorous, empirical research to advance a development-centered approach to climate change at the IMF. It is imperative that the global community support climate resilience and transitions to a low-carbon economy in a just manner, and the IMF’s role in supporting a globally coordinated response is vital. In its inaugural report, the Task Force proposes three essential elements and five guiding principles to inform such a strategy.

Read the Strategy Report

Latest Work

Don't Miss a Publication

View more