AGL 5.95 Decreased By ▼ -0.13 (-2.14%)
ANL 9.26 Decreased By ▼ -0.14 (-1.49%)
AVN 80.82 Decreased By ▼ -0.64 (-0.79%)
BOP 5.20 Decreased By ▼ -0.07 (-1.33%)
CNERGY 4.86 Decreased By ▼ -0.04 (-0.82%)
EFERT 81.82 Increased By ▲ 0.27 (0.33%)
EPCL 53.94 Decreased By ▼ -0.06 (-0.11%)
FCCL 14.29 Decreased By ▼ -0.11 (-0.76%)
FFL 5.93 Decreased By ▼ -0.12 (-1.98%)
FLYNG 7.44 Decreased By ▼ -0.12 (-1.59%)
FNEL 4.95 Decreased By ▼ -0.05 (-1%)
GGGL 9.18 Decreased By ▼ -0.14 (-1.5%)
GGL 16.51 Decreased By ▼ -0.19 (-1.14%)
HUMNL 6.14 Increased By ▲ 0.45 (7.91%)
KEL 2.77 Decreased By ▼ -0.02 (-0.72%)
LOTCHEM 30.81 Increased By ▲ 0.26 (0.85%)
MLCF 27.45 Decreased By ▼ -0.34 (-1.22%)
OGDC 74.27 Increased By ▲ 0.27 (0.36%)
PAEL 15.98 Decreased By ▼ -0.21 (-1.3%)
PIBTL 5.21 Decreased By ▼ -0.02 (-0.38%)
PRL 17.01 Decreased By ▼ -0.28 (-1.62%)
SILK 1.10 Increased By ▲ 0.01 (0.92%)
TELE 10.00 Decreased By ▼ -0.04 (-0.4%)
TPL 7.65 Decreased By ▼ -0.05 (-0.65%)
TPLP 19.41 Decreased By ▼ -0.36 (-1.82%)
TREET 22.72 Decreased By ▼ -0.47 (-2.03%)
TRG 146.80 Decreased By ▼ -0.55 (-0.37%)
UNITY 17.09 Decreased By ▼ -0.10 (-0.58%)
WAVES 10.33 Decreased By ▼ -0.05 (-0.48%)
WTL 1.42 Decreased By ▼ -0.04 (-2.74%)
BR100 4,330 Increased By 3.4 (0.08%)
BR30 16,296 Increased By 46.9 (0.29%)
KSE100 42,904 Increased By 23.3 (0.05%)
KSE30 15,805 Decreased By -4.6 (-0.03%)
Follow us

WASHINGTON: IMF chief Kristalina Georgieva on Sunday urged world leaders gathered at the COP26 summit in Glasgow to show greater policy ambition, calling climate change a "grave threat to macroeconomic and financial stability."

Georgieva published a blog post titled "Climate Threat Demands More Ambitious Global Action" before heading to Glasgow, where she will take part in the climate talks according to an IMF spokesperson.

If unchanged, "global policies will leave 2030 carbon emissions far higher than needed" to keep alive the goal of limiting global warming to only 1.5 degrees Celsius, wrote the International Monetary Fund's managing director.

Still no decision on whether IMF chief keeps her job

"To achieve these cuts, policymakers attending COP26 must address two critical gaps: in ambition and in policy."

Georgieva urged advanced economies to reduce emissions "for reasons of equity and historical responsibility."

"Even if current commitments for 2030 were met, this would only amount to between one- and two-thirds of the reductions needed for temperature goals," she said. "Regardless of how cuts are spread across country groups, everyone has to do more."

The IMF head called on advanced economies to stick to their commitment 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.

She warned that the latest figures show "we remain short of that target."

Georgieva also argued that widespread carbon pricing should play a "central role" in climate policy, and could help "jump-start emissions reductions."

"A global carbon price exceeding $75 per ton would be needed by 2030, to keep warming below 2 degrees" Celsius, she wrote.

Comments

Comments are closed.

IMF head urges COP26 leaders to ramp up climate ambition

PM Shehbaz urges Turkiye to invest in Pakistan's mega solar project

Ishaq Dar says Pakistani delegation to leave for Russia for potential oil deal

Pakistan secures €150mn in aid from ECO Trade and Development Bank: Marriyum

Saudi Arabia blocks Qatari beIN’s World Cup streaming platform

Lewandowski breaks World Cup duck as Poland beat Saudi Arabia

Nine terrorists killed in gun battle with security forces in Balochistan: ISPR

Ronaldo’s ‘total genius’ won World Cup penalty, says FIFA group

Relations with India, gender equality stressed at ‘talks by engro’ event in IBA

Xi tells Kim China willing to work with North Korea for ‘world peace’

Owned by resident Pakistanis: FBR starts taxing hundreds of foreign properties