20 January 2010: Addressing the Asian Financial Forum taking place in Hong Kong, China, from 20-21 January 2010, the Managing Director of the International Monetary Fund (IMF), Dominique Strauss-Kahn, highlighted the challenges of transforming the global economy and the “immense importance to the long-term welfare of us all” of tackling climate change.
He stated that financing of adaptation and mitigation efforts emerged as a major challenge from the Copenhagen Climate Change Conference, noting that this very complex subject will require the highest level of international collaboration. Strauss-Kahn further emphasized that the IMF will do everything in its power to contribute to a solution, underlining the potential of continued strong growth to lift a billion people out of poverty and into the global economy. He said investments in low-carbon, or “green” growth, are also useful, as technological innovation is key to managing climate change at a reasonable cost. [IMF Press Release]