– News

Taking the Lead: Rechanneling SDRs to Create and Leverage a New Global Resilience Trust at the IMF

Sep 30, 2021


The IMF should set up a Global Resilience Trust (GRT) without delay.

The IMF uniquely as a global institution engages all 190 members in mandatory annual consultations; its membership includes all oil and gas producers. To encourage oil and gas enterprises to invest in decarbonization projects and value chains, the IMF has developed innovative fiscal policy advice to apply penalties for excess methane emissions. In April 2022, the IMF approved a Resilience and Sustainability Trust for $45 billion from the recent special drawing rights (SDR) allocation to be channeled to low- and middle-income countries for Covid and climate change. The design of the Trust include actions to ensure a global as well as a local impact.

For more information, see also: https://www.cgdev.org/publication/flourish-or-fizzle-how-make-sure-imfs-new-trust-doesnt-miss-its-golden-and-green.


Share this article

Read Other News

EnergyCC major studies on Nigeria Super Emitters published by Oxford Policy Management

Feb 12, 2024 • Oil & Gas Industry

Using satellite technology to identify ‘super emitter’ gas flares in Nigeria

Read More
CGD and EnergyCC launch video for methane emission reduction

Nov 22, 2023 • Policy

To demonstrate how methane emissions can be reduced, CGD and EnergyCC have launched a video as a call for action.

Read More
CGD Talks: Practical Action on Methane Emissions: How the IMF and Others Can Help

Nov 21, 2023 • Leadership

Reduction of methane is a quintuple win:for health, for climate, for energy access, for food security and for fiscal revenues. Methane reduction from the oil & gas sector is attractive because emissions are concentrated and have a favourable abatement cost profile.

Read More