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Climate ‘win’ scenario

Climate ‘win’ scenario 25 January 2021

Helping poorest tackle climate crisis will boost global growth, says IMF head

Fiona Harvey via The Guardian

Kristalina Georgieva says investing to create resilient economies is a ‘win–win–win–win’ scenario.

Helping the most vulnerable people to cope with the climate crisis can boost the global economy during the Covid crisis and governments should make this a priority, the head of the International Monetary Fund has said.

Kristalina Georgieva said international responses to the pandemic must urgently take account of the need to adapt to the impacts of extreme weather and other climate shocks, as well as reducing greenhouse gas emissions.

Otherwise, the world risked billions of dollars of economic damage in the near future, as most countries were unprepared for the effects of a rapidly heating climate, she warned.

“The good news is that it can be win–win–win–win,” she said. “Building resilience can be good for nature and ecosystems; it can be good for economic growth; at a time when economies have lost low–skilled jobs, it boosts job creation; and the fourth win is that it can bring health benefits [such as reduced air pollution].”

Georgieva pledged help from the IMF to countries hit by the climate crisis, and to those seeking to fulfil the Paris agreement.

“What we want is for countries to think of the IMF as a source of help, and not be afraid to come to us,” she told the Guardian. “We want to build buffers to these shocks for countries that are highly vulnerable.”

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