IMF: $75/ton carbon price needed by 2030

STORY: Speaking on the sidelines of the COP27 climate talks in the Egyptian coastal resort town of Sharm el-Sheikh, IMF Managing Director Kristalina Georgieva said the pace of change in the real economy was still "way too slow."

The sum total of global carbon commitments would see emissions fall by just 11% by mid-century, recent analysis by the group suggests.

"Unless we price carbon predictably on a trajectory that gets us at least to [a] $75 average price per ton of carbon in 2030, we simply don't create the incentive for businesses and consumers to shift," she said.