Newstalk
Newstalk

13.49 25 Oct 2017


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The head of the International Monetary Fund (IMF) has warned that the world will be “toasted, roasted and grilled” in only half a century if we do not take steps to combat climate change.

Christine Lagarde was speaking during a panel discussion in Riyadh, Saudi Arabia when she issued the stark warning.

She observed: “If we don’t do anything about climate change now, in 50 years time we will be toasted, roasted and grilled.

“Decisions are needed at this point in time. Which will probably mean that, in 50 years time, oil will be a secondary commodity.”

She noted that the trend towards a less fossil fuel dependent future is “well understood” in Saudi Arabia - which is currently the world's largest oil producer and exporter.

She added that the world is heading towards “a dark 50 years from now” if we don’t deal with the issues of climate change and growing inequality.

The IMF says it focuses on the “fiscal, financial, and macroeconomic challenges” caused by climate change, which it describes as one of the world’s “foremost policy challenges”.

It also advises countries on “the appropriate design of carbon pricing and fiscal reforms to promote greener growth more broadly”.


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