The Unassuming Economist

From a new IMF blog:

“The Earth’s warming affects countries very unequally. Even though low-income countries have contributed very little to greenhouse gas emissions, they would bear the brunt of the adverse consequences of rising temperatures, since they tend to be situated in some of the hottest parts of the Earth. ”

“The international community must play a key role in supporting low-income countries’ efforts to cope with climate change. Advanced and emerging market economies have contributed the lion’s share to actual and projected warming. Hence, helping low-income countries cope with its consequences is both a moral duty and sound global economic policy that helps offset countries’ failures to fully internalize the costs of greenhouse gas emissions.”

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