The IMF posted a blog on its website yesterday under the title:
A Role for Financial and Monetary Policies in Climate Change Mitigation
It summarised the options like this:
So, I argue for green bonds, which are financial securities.
And I ask for pension fund reform.
Whilst my work on Sustainable Cost Accounting is all about the first item on the fiscal agenda.
And changing pension and ISA regulation might fit into the fourth item.
But I also like the references to Green QE. It's come a long way from its first ever outing here, in 2010:
I am aware that green quantitative easing remains controversial, and I see it (and always have) as a backstop. But I also consider it a pretty essential one.
I have no doubt we will see it in action soon: a recession is coming and the Green New Deal will be the only way out of it.