Founding Director of @SOAS Centre for Sustainable Finance (@CSF_SOAS) & Reader in Economics @SOASEcon, University of London; Senior Research Fellow @DIE_GDI 🐘
Apr 7, 2021 • 6 tweets • 5 min read
Very pleased to have a chapter on 'The IMF and the Macro-Criticality of Climate Change' in this new @GDP_Center e-book edited by @KevinPGallagher & Gao Haihong.
A short thread. 👇1/
Download the e-book: bu.edu/gdp/files/2021…
I argue that the IMF ought to systematically integrate climate risks into its analytical & operational frameworks. As a starting point, the IMF’s macro models need to be significantly enhanced so they can be used to identify the main sources of macroeconomic & fiscal risks... 2/
In my piece I call for a transformative policy response. Short-term crisis responses aimed at protecting jobs & boosting recovery need to be coupled with strategic goals of mitigating climate change and shoring up climate change adaptation and resilience.