Climate Action to Unlock the Inclusive Growth Story of the 21st Century

By Amar Bhattacharya, Maksym Ivanyna, William Oman, Nicholas Stern

May 26, 2021

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Format: Chicago

Amar Bhattacharya, Maksym Ivanyna, William Oman, and Nicholas Stern. Climate Action to Unlock the Inclusive Growth Story of the 21st Century, (USA: International Monetary Fund, 2021) accessed December 21, 2024

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

Climate change is a major threat to the sustainability and inclusiveness of our societies, and to the planet’s habitability. A just transition to a low-carbon economy is the only viable way forward. This paper reviews the climate change challenge. It stresses the criticality of systems changes (energy, transport, urban, land use, water) in a climate-challenged world, and the importance of infrastructure investment geared toward such systems changes. The key policies to enable the transition are: public spending on and investment frameworks for sustainable infrastructure, pricing carbon, regulations, promoting sustainable use of natural resources, scaling up and aligning finance with climate objectives, low-carbon industrial and innovation policies, building resilience and adaptation, better measurement of well-being and sustainability, and providing information and education on climate risks. Implemented well, climate action would unlock the inclusive growth story of the 21st century, making our societies more sustainable, inclusive, and prosperous.

Subject: Climate change, Environment, Greenhouse gas emissions, Natural disasters

Keywords: Challenge of climate change, Climate action, Climate change, Climate change challenge, Climate change mitigation, Global, Greenhouse gas emissions, Low-carbon economy, Natural disasters, South Asia

Publication Details

Pages:

65
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2021/147
Stock No:

WPIEA2021147
ISBN:

9781513573366
ISSN:

1018-5941

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