The market, governments or even the central banks? That is the question I would like to focus on over the next 15 minutes. 2 Effective and efficient climate policy The International Energy Agency expects global CO2 emissions to fall by 7% in 2020. Unfortunately, this is not a sign of a transition towards a climate-friendly world economy.
The global economy is exhibiting incipient signs of recovery as countries renew their tryst with growth, supported by monetary and fiscal stimulus. Still, activity remains uneven across countries and sectors. The outlook is highly uncertain and clouded with downside risks.