Christine Lagarde warns of ‘dark future’ if the world fails to address global warming.
The world will be in deep trouble if it fails to tackle climate change and inequality, IMF managing director Christine Lagarde has warned.
“If we don’t address these issues… we will be moving to a dark future” in 50 years, she said on Tuesday.
Lagarde said that “we will be toasted, roasted and grilled” if the world fails to act on climate change.
In 2015, around 195 nations signed the Paris climate agreement. This set out goals to reduce greenhouse gas emissions to prevent temperatures rising by more than two degrees.
But US President Donald Trump announced in June that America would pull out of the pact, arguing that it would hurt the American economy.
His move faced fierce criticism from world leaders and activists. Former UN secretary general Ban Ki-moon accused Trump of “standing on the wrong side of history”.
Lagarde also called for tackling inequality between men and women and countries that are “haves” and those that are “have nots”.
If the world wants a future that “looks like utopia and not dystopia”, it needs to address such concerns, Lagarde said. She predicted that in 50 years’ time, oil will be a secondary commodity.
In a statement following her visit, Lagarde praised Saudi reform efforts. She also praised moves to address the economic effects of persistently low oil prices.
“Saudi Arabia is also undertaking reforms to reduce constraints to women entering the workforce,” Lagarde said in the statement. She also welcomed a recent decision to allow women to drive.
Female entrepreneurship could be boosted through fiscal incentives and other policies, she added.