Climate Action to Unlock the Inclusive Growth Story of the 21st Century
IMF Working Papers, May 26, 2021
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- Climate Action to Unlock the Inclusive Growth Story of the 21st Century
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Bibliographic details
- Authors: Amar Bhattacharya, Maksym Ivanyna, William Oman, Nicholas Stern
- Published: May 26, 2021
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781513573366.001
Overview and framing
- Authors: Amar Bhattacharya, Maksym Ivanyna, William Oman, Nicholas Stern
- Publication type: IMF Working Paper No. 2021/147
- Date: May 26, 2021
- Pages: 65
- DOI: https://doi.org/10.5089/9781513573366.001
- ISBN: 9781513573366
- ISSN: 1018-5941
- Stock No: WPIEA2021147
- Summary premise: Climate change is a major threat to the sustainability and inclusiveness of societies and to planetary habitability; a just transition to a low-carbon economy is the only viable way forward.
Key findings and diagnostic points
- Climate change poses major threats to sustainability, inclusiveness, and planetary habitability.
- Systems changes are critical in a climate-challenged world; priority systems identified:
- Energy
- Transport
- Urban
- Land use
- Water
- Infrastructure investment must be geared toward enabling these systems changes.
- Building resilience and adaptation is necessary alongside mitigation.
Policy instruments and recommendations
- Public spending on and investment frameworks for sustainable infrastructure.
- Pricing carbon.
- Regulations to support the transition.
- Promoting sustainable use of natural resources.
- Scaling up and aligning finance with climate objectives.
- Low-carbon industrial and innovation policies.
- Building resilience and adaptation measures.
- Better measurement of well-being and sustainability.
- Providing information and education on climate risks.
Expected outcomes if implemented well
- Climate action would unlock the inclusive growth story of the 21st century.
- Resulting societies would be more sustainable, inclusive, and prosperous.
Source: IMF Working Paper "Climate Action to Unlock the Inclusive Growth Story of the 21st Century", May 26, 2021.
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- Working Paper