Arab Today, arab today imf world bank push for price on carbon
Last Updated : GMT 21:32:51
Arab Today, arab today
Arab Today, arab today

IMF, World Bank push for price on carbon

Arab Today, arab today

Arab Today, arab today IMF, World Bank push for price on carbon

Washington - AFP

The IMF and World Bank on Friday urged finance ministers toimpose a price on carbon, warning that time was running out for the planet to avoidworst-case climate change.The heads of the two global economic institutions convened ministers from 46countries -- including the United States, China, India and European powers -- on thesidelines of spring meetings in Washington to press the case for urgent climateaction.UN Secretary-General Ban Ki-moon, joining the talks, said that 2014 was a "criticalmoment for humanity." He urged policymakers to think of concrete action before aSeptember climate summit he has called in New York.Ban pointed to the latest report by the UN's panel of climate scientists, saying it"has made it quite clear that climate change is happening and approaching muchfaster than one may expect."The Intergovernmental Panel on Climate Change will release Sunday in Berlin thefull version of a 2,000-page report in which it is expected to give a 15-year windowfor affordable action to limit warming to two degrees Celsius (3.6 Fahrenheit) overpre-industrial times -- a level seen as avoiding catastrophic damage in terms ofdroughts, fires and rising water levels.While a draft seen by AFP does not give preferences on how to tame climate change,World Bank President Jim Yong Kim and International Monetary Fund ManagingDirector Christine Lagarde said that economies needed to put a price on carbon --the most common greenhouse gas blamed for climate change."The world needs to fight climate change with much, much greater seriousness," Kimtold reporters before heading into the talks. "We know that climate change willthreaten economic growth -- especially in the poorest countries, but everywhere aswell.""Despite the fact that it's controversial, we've got to tackle the issue of carbonpricing," Kim said.Lagarde said she was recommending for finance ministers to shift more of the taxburden onto carbon rather than focusing on taxing investments or workers.- Seeking to revive momentum Lagarde also renewed a call for an elimination of subsidies for fossil fuels, whichare sensitive in countries where consumers are accustomed to cheap energy.An IMF study last year found that energy subsidies around the world amounted to$1.9 trillion -- or eight percent of government revenues.Despite the warnings, momentum to reduce carbon emissions has slipped in recentyears. US President Barack Obama has focused on executive actions to fight climatechange after a proposal to restrict emissions died in the Senate in 2010 due to strong opposition by lawmakers supportive of the oil and gas industry.Australia's new government, led by climate skeptic Prime Minister Tony Abbott, hasmoved to abolish a carbon tax and instead is seeking a plan that includes incentivesfor companies to increase energy efficiency.Rachel Kyte, the World Bank's vice president for sustainable development, said thatFriday's meeting aimed at encouraging countries to bring concrete ideas to Ban'sclimate summit in September on the sidelines of the UN General Assembly.The September meeting in turn aims to lay the groundwork for a new climate treatyat UN-backed negotiations next year in Paris. A similarly high profile conference inCopenhagen in 2009 ended in widespread disappointment.The New York meeting is a chance "to demonstrate that there is momentum andthere is movement and there is a building sense of inevitability," Kyte told reporters.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today imf world bank push for price on carbon Arab Today, arab today imf world bank push for price on carbon

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday