Responding to the announcement from the IMF, Matti Kohonen, Christian Aid’s Principal Private Sector Advisor, said: “On the face of it this is a very welcome step from the IMF. Climate impacts are already having a huge economic impact on countries and their people so it makes sense to factor it in when calculating a nation’s economic health. High emitting countries also need to be exposed if their economic model is fundamentally unsustainable.
“But it’s important that the IMF helps big carbon emitting states to de-risk their economies by transitioning from fossil fuels to more sustainable renewable energy and boost access to this clean energy. Meanwhile, for countries with high risk of climate impacts the IMF should help them build resilience and to develop sustainably.”
Marcos Lopes Filho, Christian Aid's Senior Economic Justice and Inequalities Advisor added: “What Christian Aid has learned from our work in Brazil and Bolivia is that we must take seriously the concept of green and sustainable renewable energy. It is not enough to replace investments in fossil fuels with investments in mega hydroelectric power with massive impacts on human rights”
Ends
Christian Aid’s CEO Amanda Mukwashi will be addressing a side event at the IMF today at 6pm UK time and can be live streamed here.
