This report is being released amidst overlapping global crises: the COVID-19 pandemic, the worsening climate crisis, and the widening inequality gap within and between countries. The IMF’s Managing Director, Kristalina Georgieva, has been among the most vocal proponents of ‘building back better’, arguing for a coordinated green recovery from the COVID-19 pandemic. Concurrently, after years of debate within the institution about whether climate change is core to the IMF’s mandate, the Fund has belatedly begun to integrate climate issues into its surveillance mandate, with the recently published Comprehensive Surveillance Review (CSR) making a strong case that both physical and transition risks from climate change potentially present macro-structural challenges.
Authors: Jon Sward, Niranjali Amerasinghe, Andrew Bunker and Jo Walker.
Date published: August 2021
Number of pages: 39