- IMF outlines fiscal approach to sustainable, inclusive development
- Carbon taxes, subsidies removal could generate revenues for social safety nets
- Need to deliver jobs, reduce inequality, raise social protection for vulnerable
The International Monetary Fund (IMF) outlined a path for sustainable development at a major United Nations environmental conference, promoting use of carbon taxes to reduce environmental damage and the gradual removal of subsidies on fossil fuels as a way to generate much needed revenues for governments and reduce greenhouse gas emissions.
At the Rio+20 United Nations Conference on Sustainable Development delegates focused on renewing the political commitment to sustainable development, taking stock of progress to date and addressing emerging challenges. The conference was held in Rio de Janeiro, Brazil June 20–22, 20 years after the UN’s 1992 Earth Summit in Rio, where countries adopted a blueprint to rethink economic growth, advance social equity, and ensure environmental protection.
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