## Climate Change: No Time to Waste ## Source details **Canonical URL:** [Climate Change: No Time to Waste](https://www.imf.org/en/publications/fandd/issues/2021/09/kristalina-georgieva-climate-issue) ## Other formats - [Markdown version](/en/publications/fandd/issues/2021/09/kristalina-georgieva-climate-issue/index.md) - [Structured JSON version](/en/publications/fandd/issues/2021/09/kristalina-georgieva-climate-issue/index.json) - [Bundle manifest](/en/publications/fandd/issues/2021/09/kristalina-georgieva-climate-issue/bundle-manifest.json) ## Bibliographic details - Authors: KRISTALINA GEORGIEVA - Published: September 2, 2021 --- ### Urgency and public awareness - Author and context: - KRISTALINA GEORGIEVA, Managing Director of the International Monetary Fund. - F&D Magazine, September 2021. - Public concern: - A majority of people consider climate change a global emergency—“well above half in middle-income and least developed countries, and nearly three-quarters among people in small island states and high-income countries.” - The COVID-19 pandemic has heightened concerns: "43 percent are more worried about climate change now." - Framing: - The issue’s cover art by Nor Tijan Firdaus depicts consequences of changing climate, biodiversity loss, and environmental degradation. - Call to action: “We have no time to waste. As we look ahead to COP26, we must be ready to move decisively—together.” ### Lessons from COVID-19 and the need for rapid action - Innovation and policy lessons: - Breakthroughs in science and technology (COVID-19 vaccines) are presented as a model for rapid development and commercialization of low-carbon technologies. - Policy responses to the pandemic show that governments can take unprecedented action when needed. - Imperative: - “It is critical to act with the same determination to address climate change and speedily put in place policies that can make a difference.” ### Key policy prescriptions - Remove fossil fuel subsidies: - Recommendation: “Rid itself of all fossil fuel subsidies—equivalent to more than $5 trillion annually.” - Carbon pricing: - Robust carbon pricing needed to redirect private investment and encourage energy efficiency. - Specific target: average global carbon price of "$75 per ton by 2030," up from "today’s $3 per ton." - Institutional option: “Major emitters agreeing on an international carbon price floor would be a good start.” - Scale up green investments: - IMF staff research projects that green supply policies could "raise global GDP by about 2 percent this decade and create millions of new jobs." - Financing mix: "On average, about 30 percent of new investment is expected from public sources," making private finance mobilization vital. - Just transition measures: - Use revenues from carbon pricing for cash transfers, social safety nets, retraining, and other compensation for workers and businesses in affected high-emission sectors. - Examples cited: Germany’s national emissions trading system and the EU’s planned Just Transition Mechanism. - International support: developed economies should fulfill their commitment to provide "$100 billion a year in climate finance for the developing world." ### Summary conclusions - Central message: Translate concern into action through market signals, scaled green investment, and policies ensuring a just transition. - Final injunction: “We know what must be done; now we must do.” *Kristalina Georgieva, F&D Magazine, September 2021. International Monetary Fund.* --- ## Content in this bundle - **لا وقت نضيعه** - [لا وقت نضيعه (Markdown version)](/-/media/files/publications/fandd/article/2021/september/ar/georgieva.pdf.md){rel="alternate" type="text/markdown"} - [لا وقت نضيعه (PDF)](/-/media/files/publications/fandd/article/2021/september/ar/georgieva.pdf){rel="external" type="application/pdf"} - **No hay tiempo que perder ● Finanzas y Desarrollo ● Septiembre de 2021** - [No hay tiempo que perder ● Finanzas y Desarrollo ● Septiembre de 2021 (Markdown version)](/-/media/files/publications/fandd/article/2021/september/es/kristalina-georgieva-climate-issue-es.pdf.md){rel="alternate" type="text/markdown"} - [No hay tiempo que perder ● Finanzas y Desarrollo ● Septiembre de 2021 (PDF)](/-/media/files/publications/fandd/article/2021/september/es/kristalina-georgieva-climate-issue-es.pdf){rel="external" type="application/pdf"} - **Pas de temps à gaspiller** - [Pas de temps à gaspiller (Markdown version)](/-/media/files/publications/fandd/article/2021/september/fr/kristalina-georgieva-climate-issue-fr.pdf.md){rel="alternate" type="text/markdown"} - [Pas de temps à gaspiller (PDF)](/-/media/files/publications/fandd/article/2021/september/fr/kristalina-georgieva-climate-issue-fr.pdf){rel="external" type="application/pdf"} - **Kristalina Georgieva: No Time to Waste – IMF F&D** - [Kristalina Georgieva: No Time to Waste – IMF F&D (Markdown version)](/-/media/files/publications/fandd/article/2021/september/kristalina-georgieva-climate-issue.pdf.md){rel="alternate" type="text/markdown"} - [Kristalina Georgieva: No Time to Waste – IMF F&D (PDF)](/-/media/files/publications/fandd/article/2021/september/kristalina-georgieva-climate-issue.pdf){rel="external" type="application/pdf"} - **Нельзя терять время – Финансы и развитие – Нельзя терять время– сентябрь 2021 года** - [Нельзя терять время – Финансы и развитие – Нельзя терять время– сентябрь 2021 года (Markdown version)](/-/media/files/publications/fandd/article/2021/september/ru/georgieva-ru.pdf.md){rel="alternate" type="text/markdown"} - [Нельзя терять время – Финансы и развитие – Нельзя терять время– сентябрь 2021 года (PDF)](/-/media/files/publications/fandd/article/2021/september/ru/georgieva-ru.pdf){rel="external" type="application/pdf"} - **刻不容缓 - 金融与发展 - 国际货币基金组织季刊 2021年9月号·第58卷·第3期** - [刻不容缓 - 金融与发展 - 国际货币基金组织季刊 2021年9月号·第58卷·第3期 (Markdown version)](/-/media/files/publications/fandd/article/2021/september/zh/georgieva.pdf.md){rel="alternate" type="text/markdown"} - [刻不容缓 - 金融与发展 - 国际货币基金组织季刊 2021年9月号·第58卷·第3期 (PDF)](/-/media/files/publications/fandd/article/2021/september/zh/georgieva.pdf){rel="external" type="application/pdf"} --- _Source: https://www.imf.org/en/publications/fandd/issues/2021/09/kristalina-georgieva-climate-issue_