Energy bills will have to rise sharply to avoid climate crisis, says IMF

Fund says governments could use money to help vulnerable people or invest in green energy

Avoiding dangerous global heating will require governments around the world to impose stringent taxes on fossil-fuel usage that will mean a 43% jump in household energy bills over the next decade, the International Monetary Fund has said.

The Washington-based Fund said the battle against climate change could only be won if the average carbon tax levied by its member states increased from $2 (1.63) a ton (907kg) to $75 a ton.