The role of the IMF in addressing climate change risks

Marco Committeri, Axel Brüggemann, Patrick Kosterink, Thomas Reininger, Luc Stevens, Benjamin Vonessen, Andrea Zaghini, Isabel Garrido, Lena Van Meensel, Lija Strašuna, Nea Tiililä, Stephanie Weidner and Lucia Wilbert

No 309, Occasional Paper Series from European Central Bank

Abstract: Climate change poses three specific but interrelated policy challenges: climate change mitigation, climate change adaptation (which includes building up resilience) and managing transition risks. The International Monetary Fund (IMF) is a multilateral institution with global reach and near-universal membership. Therefore, along with other international organisations, it has an important role to play in addressing the policy challenges posed by climate change. This paper discusses the contribution the IMF makes and can make in its three areas of competence: surveillance, lending and technical assistance. The paper concludes that the IMF has significantly increased its engagement in climate change matters in recent years but should further intensify its efforts in ways that are fully consistent with its mandate. JEL Classification: F3, F33, F34, O19, Q5, Q48, Q54

Keywords: climate change; International Monetary Fund; lending; surveillance; technical assistance (search for similar items in EconPapers)
Date: 2022-11
New Economics Papers: this item is included in nep-ene and nep-env
Note: 2648491
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbops:2022309

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