Remarks by IMF Managing Director at the Climate Adaptation Summit

IMF News, January 25, 2021

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Canonical URL: Remarks by IMF Managing Director at the Climate Adaptation Summit

Speaker: Kristalina Georgieva
As prepared for delivery
Date: January 25, 2021
The IMF positions climate change as a fundamental risk to economic and financial stability and an opportunity to reinvigorate growth and create new green jobs.
Media contact: PRESS OFFICER: Phone: +1 202 623-7100 Email: MEDIA@IMF.org

Combining steadily rising carbon prices with a green infrastructure push can boost global GDP over the next 15 years by about 0.7 percent and generate work for millions of people.

First, integrating climate in our annual country economic assessments – our Article IV consultations.
- In highly vulnerable countries the IMF will focus on adaptation.
- The IMF is building up mitigation analysis, including carbon pricing, in assessments of large emitters.
Second, including climate related financial stability risks in financial sector surveillance.
- Tools mentioned include standardized disclosure of these risks, enhanced stress tests and assessments of supervisory frameworks.
Third, scaling up climate in capacity development.
- Aim: help equip finance ministries and central banks with the skills needed to take climate considerations into account.
Fourth, mainstreaming climate indicators in macroeconomic data.
- Action: launch a Climate Change Dashboard this year—with indicators to track the economic impact of climate risks and the measures taken to mitigate them.

Statement: "Climate resilience is a critical priority."
The IMF places climate resilience "at the heart of what we do — this year, and in the years to come."

Remarks by IMF Managing Director at the Climate Adaptation Summit, IMF Communications Department, January 25, 2021.