{
  "title": "Inaugural GCA Ministerial Dialogue on Adaptation Action: Opening Remarks by Kristalina Georgieva",
  "publication": "IMF News, January 25, 2021",
  "sourceUrl": "https://www.imf.org/en/news/articles/2021/01/25/sp012520-ministerial-dialogue",
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  "summary": "Urgent collective action is required: \"we need all hands on deck.\"",
  "publishDate": "2021-01-25",
  "sections": [
    {
      "heading": "Key messages",
      "content": "- Urgent collective action is required: \"we need all hands on deck.\"\n- Three core points:\n  - This is the year for action.\n  - Policies matter.\n  - The IMF is stepping up."
    },
    {
      "heading": "\"This is the year for action\" — findings and projections",
      "content": "- In the emergency response to Covid 19, only a tiny fraction of G20 spending was climate-related.\n- IMF analysis: a coordinated green infrastructure push, combined with the right carbon price signal, could boost global GDP in the next 15 years on average by 0.7 percent.\n- A coordinated green push would also:\n  - create millions of jobs, addressing pandemic-related job losses and rising automation;\n  - bring health benefits.\n- Current investment shortfall in climate resilience is most pronounced in the developing world:\n  - According to the Global Center for Adaptation, spending there is 5- to 10-times less than what is needed."
    },
    {
      "heading": "Policies — priorities and recommendations",
      "content": "- Increased resources are important, but policies matter even more.\n- Policy focus should include:\n  - Arresting and reversing the growth of carbon emissions.\n  - Eliminating harmful subsidies.\n  - Providing forward guidance on carbon price.\n  - Securing a just transition that compensates affected people and parts of the economy.\n  - Anchoring transition policies in building resilience to climate shocks."
    },
    {
      "heading": "The IMF's planned actions",
      "content": "- The IMF regards climate change as a fundamental risk to macroeconomic and financial stability and is scaling up efforts:\n  - increasing coverage of climate actions in annual country economic assessments – the Article IV consultations;\n  - incorporating climate risks in financial sector assessments;\n  - scaling up capacity development to support member countries with climate-related skills;\n  - launching a new data initiative to help countries track climate change risks and policies."
    },
    {
      "heading": "Closing emphasis",
      "content": "- Climate action is characterized as \"win-win-win-win: good for health, growth, jobs, and the planet.\"\n- Call to collective effort: \"Working together, we can do it.\"\n\nSource: Inaugural GCA Ministerial Dialogue on Adaptation Action: Opening Remarks by Kristalina Georgieva (January 25, 2021).\n\n---\n\n\n References\n\n- https://www.imf.org/en/about/senior-officials/bios/kristalina-georgieva\n- Speeches\n- PRESS CENTER\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2021/01/25/sp012520-ministerial-dialogue"
    }
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    "Published: January 25, 2021",
    "Urgent collective action is required: \"we need all hands on deck.\"",
    "Three core points:",
    "In the emergency response to Covid 19, only a tiny fraction of G20 spending was climate-related.",
    "IMF analysis: a coordinated green infrastructure push, combined with the right carbon price signal, could boost global GDP in the next 15 years on average by 0.7 percent.",
    "A coordinated green push would also:",
    "Current investment shortfall in climate resilience is most pronounced in the developing world:",
    "Increased resources are important, but policies matter even more.",
    "Policy focus should include:",
    "The IMF regards climate change as a fundamental risk to macroeconomic and financial stability and is scaling up efforts:",
    "Climate action is characterized as \"win-win-win-win: good for health, growth, jobs, and the planet.\"",
    "Call to collective effort: \"Working together, we can do it.\"",
    "[https://www.imf.org/en/about/senior-officials/bios/kristalina-georgieva](https://www.imf.org/en/about/senior-officials/bios/kristalina-georgieva)",
    "[Speeches](https://www.imf.org/en/news/searchnews)",
    "[PRESS CENTER](http://presscenter.imf.org/)",
    "[https://www.imf.org/en/home](https://www.imf.org/en/home)"
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