Renewable energy (RE) is critical for curbing global greenhouse gas emissions to achieve 2 to 4 degrees of global warming by 2100. While this is an imperative technical response to the climate crisis, the shift to renewables is also driving a surge in demand for metals and minerals used in RE.

The IMF’s most important function is to provide emergency financing to countries in dire economic straits that are unable to pay their creditors. In response to the COVID-19 pandemic, the IMF has already approved 119 programs to 85 countries at a cost of over $100bn.