IMF Deputy Calls for Higher Carbon Prices to Fight Global Warming

Countries should hike carbon prices significantly to curb global warming, Li Bo, a deputy managing director of the International Monetary Fund (IMF), said earlier this month.

Nearly 50 countries are pricing emissions through carbon taxes or emissions trading schemes (ETS), covering roughly a quarter of global emissions with an average price of $20 per ton, Li said. That means the global average price is $5 per ton.