The IMF can assist in its areas of expertise to advise on policies and support countries that are most vulnerable to economic and climate challenges. (Photo:Newscom)
The IMF and Civil Society
Climate Change Negotiations Opened in Copenhagen
December 8, 2009
Representatives from 192 countries, including 100 heads of state, are attending the United Nations Climate Change Conference to discuss emission cuts and financial measures to combate climate change.
About 100 heads of states are attending a critical United Nations conference on climate change in Copenhagen, Denmark from December 7-18. The conference aims to reach agreement on supplanting the 1997 Kyoto Protocol. At the same time, policymakers are searching for new sources of sustainable growth to recover from the deepest economic crisis in decades and, in many cases, also the means to cope with severe fiscal pressures that the crisis has exacerbated. Nonetheless, the impact of the crisis detract little from the urgent need to combat climate change.
The International Energy Agency forecasts that declining economic activities could lead to global greenhouse gas emissions falling by more than 2.5 percent in 2009 (having increased rapidly in recent years).
“Sustaining the recovery and putting in place effective climate change policies can be mutually reinforcing with the right policies implemented resolutely,” said IMF Managing Director Dominique Strauss-Kahn. “Global cooperation, including among International financial institutions, will help countries to confront the challenges from climate change. These require innovative and long-term solutions, which have a part to play in supporting the recovery and sustainable growth. The IMF can assist in its areas of expertise to advise on policies and support countries that are most vulnerable to economic and climate challenges.”
New IMF Paper
Ahead of the conference, the IMF published a paper on “Climate Policy and the Recovery” that considers the challenge posed by twin policy imperatives: how to exit from the crisis while developing an effective response to climate change. At the same time, the IMF is publishing a series of articles on climate change in its quarterly magazine Finance and Development
The International Monetary Fund was awarded one of the highest environmental designations in the world for its headquarters in Washington DC. The IMF is the first international financial organization and the first United Nations affiliated organization to be awarded LEED Gold for Existing Buildings established by the U.S. Green Building Council.