Carbon pricing would raise trillions needed to tackle climate crisis, says IMF

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Diverting the trillions of dollars by which the world subsidises fossil fuel production each year, and putting an implicit price on carbon emissions, would generate the vast amounts of cash needed to tackle the climate crisis, the head of the International Monetary Fund has said. Governments have been put off explicitly pricing carbon by the potential unpopularity of new carbon taxes, which have become favourite targets of anti-climate politicians and parties around the world, from the US and Australia to Europe and the UK. Kristalina Georgieva, the managing director of the IMF, said it was possible to achieve the same...