IMF Staff Propose Carbon-Price Floor to Slow Climate Change
- Measures could help meet Paris Agreement goals, IMF staff says
- One option is varying price based on nations’ development rung
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International Monetary Fund staff proposed a carbon-price floor to slow global warming over the next decade, saying that climate change presents huge risks to the functioning of the world’s economies.
In a paper published on Friday and still under discussion by the IMF executive board and members, fund staff proposed as one option different minimum carbon-price levels for countries based on their stage of development. The proposal parallels the debate on a minimum global corporate-tax rate.