Why IMF’s head wants to lock world’s biggest emitters in a room

Carbon pricing is vital if the huge amounts of financing needed to cut emissions and ramp up renewables is to be deployed, agreed experts in Davos, as the IMF’s Kristalina Georgieva made clear her frustration at the lack of action on climate finance.

“We are in ditch and we have to climb out of it,” Kristalina Georgieva, managing director of the IMF, told an event at the World Economic Forum’s annual meeting in Davos on Thursday morning, focused on speeding up and increasing the delivery of financing needed to cut greenhouse gas emissions.