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.