IMF urges more private financing in emerging economies for climate transition

WASHINGTON, Oct. 2 (Xinhua) -- The International Monetary Fund (IMF) said on Monday that the private sector will need to make a major contribution toward the large climate investment needs for emerging market and developing economies.

Achieving the transition to net-zero emissions by 2050 requires substantial climate mitigation investment in emerging market and developing economies, which currently emit around two-thirds of greenhouse gases, the IMF said in a blog, as it released a chapter of the latest Global Financial Stability Report.