Climate Crossroads: Fiscal Policies in a Warming World
Type: White Paper
Categories: Commercial, GHG Emissions, Finance
Date Published: 10/2/2023
Author: By International Monetary Fund
The International Monetary Fund's (IMF) report "Climate Crossroads: Fiscal Policies in a Warming World" — published in IMF's October 2023 Fiscal Monitor — takes stock of mitigation policies across countries and presents the trilemma facing policymakers of balancing between achieving climate goals, debt sustainability, and political feasibility. New insights from the report show that the only way to achieve these joint goals is through a carefully calibrated mix of revenue and spending-based policies.
Containing global warming will ultimately benefit everyone by mitigating the potential catastrophic consequences of climate change. However, it necessitates a radical economic transformation that could impose costs and benefits unevenly across people, firms, regions, and countries. With private financing playing a decisive role, the transition to low-carbon energy sources will require strong complementarities between public and private actors.
To read the IMF's insights into the mix of fiscal policies needed to address climate change worldwide, download "Climate Crossroads: Fiscal Policies in a Warming World" here:
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