Remarks by IMF Managing Director Kristalina Georgieva at the 2024 ESG Global Leaders Conference [Yahoo! Finance]
CHINA CONSTR BK UNSP/ADR (CICHY)
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Source: Yahoo! Finance
Georgieva , Managing Director of the International Monetary Fund (IMF), delivered a compelling speech on the critical need for global climate action. Georgieva stated that to achieve the goal of "keep global warming well below 2 degrees Celsius," it is paramount to front-load action during this decade and cut global greenhouse gas emissions by 50 percent by 2030. Unfortunately, current pledges will only get us emissions cuts amounting to 12%. Therefore, she urged the need to set higher emission reduction targets for 2030 and ensure that the world has the necessary mechanisms to continuously and significantly cut emissions - by more than 7% annually over the next decade. Georgieva indicated that emerging markets and developing economies need approximately two to three trillion dollars per year for climate action, with up to 90% of the necessary funds needing to come from the private sector. Therefore, to mobilize private sector funds on a large scale, countries must accelerate the
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