, 6 tweets, 2 min read Read on Twitter
"#ClimateChange is the great existential challenge of our times. It is a challenge that spans all regions, with especially severe consequences for low-income countries." - @Lagarde
"Without mitigating actions, global temperatures are projected to rise by 4 degrees above pre-industrial levels by the end of the century—with increasing and irreversible risks of collapsing ice sheets, inundation of low-lying island states, extreme weather events...
"A warming climate could also mean INCREASED EXTINCTION RISK FOR A LARGE FRACTION OF SPECIES, the spread of diseases, an undermining of food security, and reduced renewable surface water and groundwater resources."
"Estimates in a new IMF working paper put global subsidies for fossil fuel energy implied by the underpricing of supply and environmental costs at a staggering $5.2 trillion in 2017, or 6.5 percent of world GDP.
"Many of the benefits of price reform are local, so countries can make themselves better off, while at the same time helping to address global climate change. A key conclusion here is that solidarity is self-interest."
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