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Had enough yet? Last month was the hottest March on record worldwide; global carbon emissions are tracking the IPCC’s worst-case scenario; poverty-stricken India is now shouldering a carbon mitigation burden greater than ours; and the Senate’s score on cap-and-trade is holding steady at zero.
As Nancy Birdsall wrote in a recent blog posting, an IMF Staff Position Note issued on March 25 offers valuable ideas for leveraging IMF Special Drawing Rights (SDRs, an international reserve asset and the IMF unit of account) to begin raising the hundreds of billions of dollars needed to respond to the looming challenge of runaway climate change