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IMF Managing Director Kristalina Georgieva on the fight against climate change //







Dear Colleague,

"Ready or not, we are entering an age of adaptation," writes IMF Managing Director Kristalina Georgieva in our newest issue of F&D magazine on the economics of climate change. "Adaptation is not a defeat, but rather a defense against what is already happening."

And what exactly is happening? According to a new UN report issued last week, the planet is set to warm to 3.2 degrees Celsius by 2100 unless efforts to cut emissions are tripled. To stay within relatively safe limits, emissions must decline by 7.6 percent every year between 2020 and 2030. Drastic measures are required, and no institution or individual can stand on the sidelines.

And that includes us.

"We consider climate change a systemic risk to the macroeconomy and one in which the IMF is deeply involved through its research and policy advice. We are intensifying our work on carbon pricing and helping governments craft road maps as they navigate their way to build green economies that strive to be carbon free. We will be working more closely with central banks, which are now adapting regulatory frameworks and practices to address the risks posed by climate change," says Georgieva. "And last but not least, we will help push forward efforts around climate change stress testing, including through our own assessments of countries’ financial sectors and economies."

Click here to read the full article.

After reading, let me know what you think of the IMF's climate strategy moving forward. I'm also eager to learn of any new research you're working on or publishing in the coming months tied to tackling the climate crisis. You can reach me at rkanani@imf.org.

If you are among the 250,000 people from 200 countries participating in COP25 in Madrid, I look forward to hearing about your experience.

Take good care,


Rahim Kanani
Digital Editor, F&D Magazine
International Monetary Fund


P.S. After much feedback, I will be producing specialized F&D newsletters in 2020 on a range of key issues, so if you can spare 30 seconds, please update your profile by answering a few basic questions about your current role and interests

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