IMF Must Lead on Climate Finance

In 2021, the Fund conducted a “comprehensive oversight review,” which led the Executive Board to mandate that climate change be placed at the center of operations.

With the agreement at COP28 for “the transition from fossil fuels in energy systems”, countries have made genuine progress in the fight against climate change. But much remains to be done to mobilize the level of funding needed to turn the commitment into reality. International organizations – especially the International Monetary Fund – must step up. Although the IMF took relatively little time to move forward in the race to combat climate change, it has made great strides under the leadership of its managing director, Crystalline Georgieva. But it must take its climate leadership much further.

Continue reading the news in El Economista