IMF Seeks Carbon ‘Price Floor’ That Could Accommodate Biden Approach

International Monetary Fund (IMF) staff are calling for negotiating an international carbon “price floor” among the United States and other key nations as a way to meet climate goals and encourage joint action, with officials suggesting it could accommodate the Biden administration’s approach favoring rules and investments over direct carbon pricing. IMF staff are also framing the idea as a way to “reinforce” the Paris process under which current commitments fall short of what is needed to limit dangerous climate...