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International Monetary Fund. External Relations Dept.

N ovember 28-December 9 United Nations Climate Change Conference, Montreal, Canada D ecember 4-9 International Conference on HIV/AIDS and Sexually Transmitted Infections in Africa, Abuja, Nigeria 8 Japan External Trade Organization, Asahi Shinbun , and the World Bank, “International Symposium on Economic Integration in Asia and India: What Is the Best Way of Regional Cooperation?” Tokyo, Japan 10 Meeting of Group of Seven Finance Ministers and Central Bank Governors, London, United Kingdom 12-14 UNCTAD, Expert Meeting on Capacity

Bjørn Lomborg

There are smarter alternatives to fighting climate change than cutting CO 2 emissions DIRE predictions about melting ice caps and rising sea levels still strike fear in our hearts. But increasingly, people are ignoring the ominous warnings that are filling the media landscape in the run-up to the United Nations climate change conference in Copenhagen in December 2009. Public support for environmental issues in key countries has taken a beating. Only one-third of Americans now think that humans are responsible for climate change. The number of Australians

Mr. Dimitri G Demekas and Pierpaolo Grippa
There are demands on central banks and financial regulators to take on new responsibilities for supporting the transition to a low-carbon economy. Regulators can indeed facilitate the reorientation of financial flows necessary for the transition. But their powers should not be overestimated. Their diagnostic and policy toolkits are still in their infancy. They cannot (and should not) expand their mandate unilaterally. Taking on these new responsibilities can also have potential pitfalls and unintended consequences. Ultimately, financial regulators cannot deliver a low-carbon economy by themselves and should not risk being caught again in the role of ‘the only game in town.’