Greening the International Monetary Fund

2025/10/10 by Alexander Kentikelenis, Thomas Stubbs · 1 voice · 1 citation
Economics, Econometrics and Finance · Environmental Science · Social Sciences · #Climate Change Policy and Economics #International Development and Aid #Sustainable Development and Environmental Policy

paper · pdf · doi:10.1017/9781009697491

openalex publication_date 2025/10/10 · openalex created_date 2025/10/11 · openalex updated_date 2026/07/25

Abstract

The International Monetary Fund (IMF) has emerged as a key player in climate policy. The organization introduced its Climate Strategy in 2021 and established the Resilience and Sustainability Facility in 2022 to provide financial support to countries facing adaptation and mitigation challenges. The IMF's closer engagement with the economic dimensions of climate change holds the promise of helping countries pre-empt large-scale economic dislocations from climate risks. But how much progress has the IMF made in supporting the green transition? What is the policy track record of the IMF's climate loans? How do regular IMF loans and mandated reforms encompass climate considerations? How have the IMF's economic surveillance activities considered climate risks? Based on new evidence, the findings in this Element point to the multifaceted, and at times contradictory, ways green transition objectives have become embedded within IMF activities. This title is also available as Open Access on Cambridge Core.

Citations

• Institutionalized Organizations: Formal Structure as Myth and Ceremony
• Playing Favorites: How Shared Beliefs Shape the IMF's Lending Decisions
• The Wall Street Consensus
• The Return of Debt Crisis in Developing Countries: Shifting or Maintaining Dominant Development Paradigms?
• Globalizing green industrial policy through technology transfers
• Biased bureaucrats and the policies of international organizations
• Public Support for Green, Inclusive, and Resilient Growth Conditionality in International Monetary Fund Bailouts
• Green macrofinancial regimes
• Environmental Policies and Innovation in Renewable Energy
• Debt-for-Climate Swaps: Analysis, Design, and Implementation
• SHAPING POLICY CURVES: COGNITIVE AUTHORITY IN TRANSNATIONAL CAPACITY BUILDING
• Green industrial policy

Cited by

• Macro-critical but market-centric: the IMF’s half-turn on climate

Discussions

• Our new book — Greening the International Monetary Fund (Cambridge University Press, 2025) — examines how climate change has become embedded within the IMF’s operations, and what this means for global [bsky, 6 points, 1 comments]

Related

• Macro-critical but market-centric: the IMF’s half-turn on climate
• Economisation as boundary work: Integrating climate change into IMF surveillance
• Integrating Climate Risks into Central Banks’ Monetary Policy Framework: A Systematic Literature Review
• The fiscal and financial implications of low-carbon transition policies: insights from emerging countries.
• Public Support for Green, Inclusive, and Resilient Growth Conditionality in International Monetary Fund Bailouts