Contents
Contents
We should treat the natural world as we would the economic world and protect our natural capital.
THE ECONOMICS OF CLIMATE
The Greatest Balancing Act
Nature and the global economy
David Attenborough and Christine Lagarde
Carbon Calculus
For deep greenhouse gas emission reductions, a long-term perspective on costs is essential
Kenneth Gillingham
Fifty Shades of Green
The world needs a new, sustainable financial system to stop runaway climate change
Mark Carney
Putting a Price on Pollution
Carbon-pricing strategies could hold the key to meeting the world’s climate stabilization goals
Ian Parry
Investing in Resilience
Disaster-prone countries are strengthening their ability to withstand climate events
Bob Simison
Climate Change and Financial Risk
Central banks and financial regulators are starting to factor in climate change
Pierpaolo Grippa, Jochen Schmittmann, and Felix Suntheim
Reaping What We Sow
Smart changes to how we farm and eat can have a huge impact on our planet
Nicoletta Batini
Nature’s Solution to Climate Change
A strategy to protect whales can limit greenhouse gases and global warming
Ralph Chami, Thomas Cosimano, Connel Fullenkamp, and Sena Oztosun
ALSO IN THIS ISSUE
Tackling Inequality
How can we address inequality in the 21st century? Start with climate change
Lyndsay Walsh
Grass Roots
From Brazil to New Zealand, local activists show that small-scale initiatives can make a difference
Daphne Ewing-Chow, Anna Jaquiery, Denise Marín, Ashlin Mathew, and David Smith
Hidden Giants
It’s time for more transparency in the management and governance of national oil companies
David Manley, David Mihalyi, and Patrick R. P. Heller
A Greener Future for Finance
The successes and challenges of green bonds offer lessons for sustainable finance
Afsaneh Beschloss and Mina Mashayekhi
The SDR’s Time Has Come
Rethinking the Special Drawing Right could bolster the IMF’s role in the global financial safety net
José Antonio Ocampo
DEPARTMENTS
Straight Talk
The Adaptive Age
No institution or individual can stand on the sidelines in the fight against climate change
Kristalina Georgieva
People in Economics
City Slicker
Chris Wellisz profiles Harvard’s Edward Glaeser, who sees urbanization as a path to prosperity
In the Trenches
Going against the Tide
Brazil’s Ilan Goldfajn explains why central bankers ought to follow their convictions
Currency Notes
Ahead of His Time
Mathematician and computer science pioneer Alan Turing will appear on UK currency
Melinda Weir
Front Matter Page
F&D
FINANCE & DEVELOPMENT
A Quarterly Publication of the International Monetary Fund
EDITOR-IN-CHIEF:
Gita Bhatt
MANAGING EDITOR:
Maureen Burke
SENIOR EDITOR:
Chris Wellisz
EDITOR:
Glenn Gottselig
DIGITAL EDITOR:
Rahim Kanani
ONLINE EDITOR:
Lijun Li
PRODUCTION MANAGER:
Melinda Weir
COPY EDITORS:
Michael Harrup Lucy Morales
ADVISORS TO THE EDITOR:
Bernardin Akitoby
Celine Allard
Bas Bakker
Steven Barnett
Nicoletta Batini
Helge Berger
Paul Cashin
Luis Cubeddu
Alfredo Cuevas
Rupa Duttagupta
Thomas Helbling
Tommaso Mancini Griffoli
Gian Maria Milesi-Ferretti
Christian Mumssen
İnci Ötker
Catriona Purfield
Uma Ramakrishnan
Abdelhak Senhadji
Alison Stuart
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Finance & Development is published quarterly by the International Monetary Fund, 700 19th Street NW, Washington, DC 20431, in English, Arabic, Chinese, French, Russian, and Spanish. English edition ISSN 0145-1707
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