IMF tables tax increases.

"Giving her clearest backing yet to green taxes and a range of measures to protect the environment, she argued for taxes on petrol-guzzling cars among a range of green measures to tackle climate change."

Christine Lagarde is reported as seeking an increase in "green taxes" in an effort to create a more sustainable future.

Her actual Back to Rio speech is here.

It strikes me as a bit ironic that as one who is said to pay no income tax on her IMF salary, that to propose further taxes on dubious environmental grounds is something that should not be within the IMF's remit, or to put it another way, will it be incumbent on countries seeking future bailouts that their green taxes match the IMF's requirements?

The example she gives of introducing such a tax in the US shows what it could raise but not exactly where the money would go to and also ignores what effects if any it could have on the US economy.

Similarly with the aviation example- "Charges on international aviation and maritime emissions would raise about a quarter of the $100 billion needed for climate adaptation and mitigation in developing countries—resources that developed countries have committed to mobilize by 2020." This is very close to waffle, page-filling to jump on a green bandwagon.

Back to Rio indeed. I cant wait for my own return visit.