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News Link • Climate Change

IMF urges higher energy taxes to fight climate change

• http://news.yahoo.com, Reuters
For the first time, the IMF laid out exactly what it views as appropriate taxes on coal, natural gas, gasoline and diesel in 156 countries to factor in the fuels' overall costs, which include carbon dioxide emissions, air pollution, congestion and traffic accidents.

Under its chief, Christine Lagarde, the IMF has delved into the impact of climate change, arguing that tackling the fund's core mission of economic instability is impossible without also addressing environmental damage.

At the book's launch in Washington, Lagarde said countries should not have to wait for global agreement on climate policies, and instead should move ahead in adjusting energy prices on their own.

Nations are now working on a United Nations deal for late 2015 to rein in greenhouse gas emissions that have hit repeated highs this century, but progress has been slow as nations fret about the impact any measures could have on economic growth.

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