Helping poorest tackle climate crisis will boost global growth, says IMF head

(The Guardian, 25 Jan 2021) Kristalina Georgieva says investing to create resilient economies is a ‘win-win-win-win’ scenario.

Helping the most vulnerable people to cope with the climate crisis can boost the global economy during the Covid crisis and governments should make this a priority, the head of the International Monetary Fund has said.

Kristalina Georgieva said international responses to the pandemic must urgently take account of the need to adapt to the impacts of extreme weather and other climate shocks, as well as reducing greenhouse gas emissions.

Otherwise, the world risked billions of dollars of economic damage in the near future, as most countries were unprepared for the effects of a rapidly heating climate, she warned.

“The good news is that it can be win-win-win-win,” she said. “Building resilience can be good for nature and ecosystems; it can be good for economic growth; at a time when economies have lost low-skilled jobs, it boosts job creation; and the fourth win is that it can bring health benefits [such as reduced air pollution].”

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The Guardian, 25 Jan 2021: Helping poorest tackle climate crisis will boost global growth, says IMF head