Once in a Generation

Jeff Hayden altBy Jeff Hayden

World leaders will come together three times—in July, September, and December—to press for progress in the fight against poverty and to forge partnerships in support of better-quality life around the world.

In July, government officials and representatives from civil society organizations, donor groups, and the private sector will meet in Addis Ababa, Ethiopia, to secure the financing needed to lift millions out of extreme poverty.

The global community assembles again in New York in September to review progress under the Millennium Development Goals (MDGs), which expire this year, and to adopt new ones—the Sustainable Development Goals (SDGs)—that map out development through 2030.

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Paying the Price for the Future We Want

One area where the IMF can help to promote sustainable development is by “getting the prices right.” Getting appropriate pricing means, for example, making sure that companies and individuals pay the true cost of polluting our planet. The best way to come up with the true costs is through fiscal instruments, such as environmental taxes or emissions trading systems where governments sell pollution rights, to reflect environmental damages in the prices we pay for energy, food, driving our cars, and so on. Getting the prices right should form the centerpiece of policies to promote green, or environmentally sustainable, development.

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