The IMF is going to significantly step up its climate work

Abstract

Climate change is one of the biggest macro-economic challenges the global economy will be facing in the coming decades. This has put pressure on international organizations to adapt and step up their work on climate. The IMF’s new comprehensive Climate Strategy is a clear signal that the IMF intends to meet the challenge. Over the past years the IMF has strengthened its role in global climate discussions by publishing a series of policy papers, actively communicating on climate issues, and advocating for global solutions. The new Climate Strategy emphasizes the significant impacts that climate risks, climate policy actions as well as adaptation and transition needs will have on macroeconomic stability and envisions integrating climate change into most surveillance and capacity development activities. At the same time, climate change is increasingly featuring in IMF lending.