Sun | Sep 23, 2018

IMF welcomes climate change agreement

Published:Sunday | December 13, 2015 | 12:00 AM
Managing director of the International Monetary Fund Christine Lagarde

Christine Lagarde, managing director of the International Monetary Fund, has welcomed the Paris Agreement:

"The Paris Agreement is a critical step forward for addressing the challenge of global climate change in the 21st century. Governments must now put words into actions, in particular, by implementing policies that make effective progress on the mitigation pledges they have made," said Lagarde.

"That is why my key message is to price carbon right, and to do it now. Charging for the emissions of fossil fuels puts in place the needed incentives for low-carbon investments. It also provides revenues to safeguard the poor, reduce debt, and lower the burden of other taxes on households and businesses.

"We look forward to dialogue on carbon pricing and helping governments put this vital policy into practice," added Lagarde.