Abstract
The climate crisis is too important to let our goals turn into failed promises.
Contents
The climate crisis is too important to let our goals turn into failed promises.
THE CLIMATE ISSUE
No Time to Waste
Kristalina Georgieva
Our Last, Best Chance on Climate
The COP26 meeting in Glasgow may usher in a new era of sustainable development
Amar Bhattacharya and Nicholas Stern
Five Things to Know about Carbon Pricing
Carbon pricing shows serious promise as a tool in the fight against climate change
Ian Parry
Driving Deep Decarbonization
As green energy costs drop, we should shift the emphasis from economy-wide carbon pricing to sectoral policies
James H. Stock
Economics Nature’s Way
Good economics demands that we manage Nature better
Partha Dasgupta
Fighting Climate Change with Innovation
Innovation has brought us to an infection point; the coming decade will be decisive
Kelly Levin and Andrew Steer
Climate Cooperation
Working with its members, the IMF is managing the risks and opportunities of climate change
Eddie Buckley
Chimpanzee Politics and Climate Change
The animal kingdom can teach us important lessons about ourselves and increase cooperation to fight climate change
Ruchir Agarwal
ALSO IN THIS ISSUE
Clean and Green Finance
A new sustainable financial system can secure a net zero future for the world
Mark Carney
Building Back Better
Finland and Dominica pursue innovative ways of coping with climate change
Steven Dorst
Walking the Talk
Climate activists share candid advice for top COP officials
Vanessa Nakate, Vladislav Kaim, Ernest Gibson
Asia’s Climate Emergency
Fiscal policy can help address climate change in Asia, the region hit hardest by global warming
Era Dabla-Norris, James Daniel, and Masahiro Nozaki
Climate Change and Monetary Policy
Central banks must do their part in fighting global warming
Isabel Schnabel
Investing in a Sustainable Future
Private sector financing can play a pivotal role in amplifying the effects of government climate policies
Valerie Smith
A Path to Zero
Reaching net zero emissions is achievable with comprehensive policy action
Christoph Bertram, Ottmar Edenhofer, and Gunnar Luderer
Powering Growth
African countries are embracing renewables to accelerate energy access
Benson Ireri and Rebekah Shirley
DEPARTMENTS
People in Economics
Climate Economist
Bob Simison profiles Berkeley’s Solomon Hsiang
In the Trenches
No Higher Ground
For Maldives Environment Minister Aminath Shauna, fighting climate change is an existential battle
Picture This
Net Zero by 2050
The IEA outlines a path to decarbonize the energy sector in three decades
Back to Basics
What Is Mitigation vs Adaptation?
The world faces a two-front battle to halt global warming and address the effects of climate change
Adam Behsudi
Book Reviews
Monetary Policy in Times of Crisis, Massimo Rostagno and others
Tree Days at Camp David, Jeffrey E. Garten
Cogs and Monsters, Diane Coyle
Currency Notes
Cleaning Up Crypto
Bitcoin’s carbon footprint is again making headlines
Analisa R. Bala
Title Page
FINANCE & DEVELOPMENT
A Quarterly Publication of the International Monetary Fund
EDITOR-IN-CHIEF:
Gita Bhatt
MANAGING EDITOR:
Maureen Burke
DEPUTY MANAGING EDITOR:
Peter Walker
SENIOR EDITORS:
Analisa Bala Adam Behsudi
ASSISTANT EDITOR:
Andrew Stanley
DIGITAL EDITOR:
Rahim Kanani
ONLINE EDITOR:
Lijun Li
PRODUCTION MANAGER:
Melinda Weir
COPY EDITOR:
Lucy Morales
ADVISORS TO THE EDITOR:
Bernardin Akitoby
Celine Allard
Steven Barnett
Nicoletta Batini
Helge Berger
S. Pelin Berkman
Paul Cashin
Martin Čihák
Alfredo Cuevas
Era Dabla-Norris
Mame Astou Diouf
Rupa Duttagupta
Hamid Faruqee
Davide Furceri
Deniz Igan
Kenneth Kang
Subir Lall
Raphael Lam
Christian Mumssen
Papa N’Diaye
Mahvash Qureshi
Uma Ramakrishnan
Daria Zakharova
© 2021 by the International Monetary Fund. All rights reserved. For permission to reproduce any F&D content, submit a request via online form (www.imf.org/external/terms.htm) or by e-mail to copyright@imf.org. Permission for commercial purposes also available from the Copyright Clearance Center (www.copyright.com) for a nominal fee.
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English edition ISSN 0145–1707
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