Energy taxes in much of the world are far below what they should be to reflect the harmful environmental and health impact of fossil fuels use, the International Monetary Fund said in a new book on Thursday.

For the first time, the IMF laid out exactly what it views as appropriate taxes on coal, natural gas, gasoline and diesel in 156 countries to factor in the fuels’ overall costs, which include carbon dioxide emissions, air pollution, congestion and traffic accidents.

Under its chief, Christine Lagarde, the IMF has delved into the impact of climate change, arguing that tackling the fund’s core mission of economic instability is impossible without also addressing environmental damage.

At the book’s launch in Washington, Lagarde said countries should not have to wait for global agreement on climate policies, and instead should move ahead in adjusting energy prices on their own.

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