Kristalina Georgieva, managing director of the International Monetary Fund, speaks during the Singapore FinTech Festival in Singapore, on Wednesday, Nov. 15, 2023.
Dubai, UNITED ARAB EMIRATES — The head of the International Monetary Fund on Sunday underlined the case for carbon pricing at the COP28 climate summit, saying that the oil and gas industry recognizes "the writing on the wall."
A long-time proponent of carbon pricing, IMF Managing Director Kristalina Georgieva said this approach creates an incentive for polluters to rapidly decarbonize.
Carbon pricing ascertains the cost that a company needs to pay for its planet-warming emissions and is widely regarded as the most cost-effective and flexible way to cut such pollution.
"For those that have adopted a carbon price, how do we get big emitters to accept that we need to accelerate decarbonization?"
Kristalina Georgieva, Georgieva, CNBC's Dan Murphy, Nature
International Monetary Fund, Singapore FinTech Festival, UNITED, EMIRATES, IMF