World 'falling short' of commitments made to help countries affected by climate change - IMF

International Monetary Fund (IMF) Managing Director Kristalina Georgieva says the world is falling short of commitments made to countries like The Bahamas, which are most affected by climate change, and she agreed to work closer with The Bahamas on carbon credits and additional financing.

Ms Georgieva made the comments following a meeting with Bahamas Prime Minister Philip Davis on the sidelines of The 2022 United Nations Climate Change Conference (COP27) in Sharm El-Sheikh, Egypt.

She says carbon offsets can be an asset class for The Bahamas that helps to finance adaption to climate shock.