"We are facing a global climate emergency that demands immediate action and long-term solutions, with financial institutions uniquely positioned to help support a net zero carbon future and a more sustainable world.

The urgency has never been greater: polar ice is melting and sea levels are rising, as are global temperatures. The National Aeronautics and Space Administration reports that last year tied with 2016 as the warmest on record since recordkeeping began in 1880, and that 19 of the warmest years have occurred since 2000."

The article was published in the IMF's Finance & Development magazine. Click here to access the article.

Source: IMF, Finance&DEvelopment, December 2021 issue

Illustration: ISTOCK / JCHIZHE