Overview

Presents a structured discussion on how to measure the economic and financial dimensions of climate change. It combines economic theory and analysis with real world examples of how climate data can be constructed for different country settings, based on existing climate science and economic data. The book identifies important climate data gaps, as well as practical and innovative approaches to close many of these gaps. Specifically, the book discusses how to track greenhouse gas emission by production and consumption (Chapters 1-2), which lead to physical risks (Chapters 3-4) and transition risks (Chapters 5-7) and concludes with cross-border implications of climate risks (Chapters 8-9). The book showcases a collaboration of seven international organisations: European Central Bank, Eurostat, International Energy Agency, International Monetary Fund, Organisation for Economic Cooperation and Development, World Bank, and World Trade Organization. Chapter contributions come from leading practitioners and experts in the fields of energy and climate change issues, This volume also serves as a reference guide for the IMF's Climate Change Indicators Dashboard (CID) and future research in this area.

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“This book presents a much-needed coordinated discussion to step up efforts to provide a common framework for measuring the economic and financial dimensions of climate change. While the general topic is well known, there are still some critical and rather urgent agreements to reach, such as those involving economic and financial classifications and taxonomies. From a central banker perspective, I hope the book will facilitate international policy cooperation on the implications of climate change for financial stability, supervision, and, more generally, economic policy.” - Margarita Delgado Deputy Governor, Bank of Spain “As policymakers and investors step up decarbonisation efforts, they need reliable and comparable climate data-but such data is often lacking. This volume, the product of close cooperation across seven international organisations, presents practical approaches to close data gaps by using existing climate data and by improving future data collection. It will help unlock climate action by both the public and private sectors. ” - Ngozi Okonjo-Iweala, Director-General, World Trade Organization “IMF's timing with Data for a Greener World is perfect. All legally binding statutes in the Paris Agreement, quantified around the 1.5°C planetary limit, are now finalised. Our task now is to deliver. Fast. For this we need data and state-of-the-art methods to measure progress and the implications of climate change. This book provides the menu for action.” - Johan Rockström, Director, Potsdam Institute for Climate Impact Research “To track and manage progress on climate action, governments and the public need robust and comparable data. Thus this book, prepared by the IMF in collaboration with others, is of real importance. It is a comprehensive reference with real-world examples, written by top practitioners who are bringing to life climate data issues. It is very valuable both for experts and for the broader public.” - Lord Nicholas Stern, Professor of Economics and Government, London School of Economics

Author Information

The International Monetary Fund (IMF) is an international organization of 185 Member Countries. It was established to promote international monetary cooperation, exchange stability, and orderly exchange arrangements; to foster economic growth and high levels of employment; and to provide temporary financial assistance to countries in order to help ease balance of payments adjustments.

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