IMF emphasizes importance of carbon pricing

At the Singapore FinTech Festival, IMF Managing Director Kristalina Georgieva emphasized the importance of carbon pricing at the COP28 climate summit. She stated that the oil and gas industry acknowledges the need for decarbonization. The IMF raised its average price forecast to $85 per ton by the end of the decade, up from $75. Georgieva highlighted the urgency of accelerating decarbonization and the role of carbon pricing as an incentive for polluters.