(Washington) The boss of the IMF called on Sunday the world leaders gathered at the COP26 on climate in Glasgow to be “more ambitious” in their policies against climate change, “a serious threat to financial and economic stability”.
“The climate threat calls for more ambitious global actions,” writes Kristalina Georgieva in a blog before traveling to Glasgow where she will attend the conference, according to a spokesperson for the International Monetary Fund.
“Unchanged, global policies will leave carbon emissions in 2030 much higher than necessary to keep the target (of limiting warming to) 1.5 ° C alive,” writes the official.
“To achieve these reductions, the political decision-makers present at COP26 must fill two critical gaps: in terms of ambition and policy,” she adds.
The Managing Director of the IMF calls in particular “the advanced economies to reduce their emissions more quickly for reasons of equity and historical responsibility”.
“Even if current commitments for 2030 were met, this would only represent between one to two thirds of the reductions needed for temperature targets,” she continues. “Whatever the distribution of reductions among groups of countries, everyone must do more.”
She insisted that advanced economies keep their pledge to provide $ 100 billion per year in financing to low-income countries starting in 2020 to offset the cost of moving away from fossil fuels.
“The most recent figures show that we are falling short of this target,” she said.
According to her, the generalization of carbon pricing must “play a central role” and “could boost emissions reductions”.
“A global carbon price of over $ 75 per tonne would be necessary by 2030 to keep warming below 2 ° C”, further indicates the head of the international institution.