In its report, the IMF highlighted the issue of carbon dioxide emissions generated by these sectors.
According to the report, AI and mining account for 2% of global electricity consumption, and this figure could rise to 3.5% over the next three years. By 2027, these industries could contribute 1% of global carbon emissions. The IMF warns that increasing energy consumption in these sectors could exacerbate current climate change issues and raise greenhouse gas emissions.
To address this and reduce environmental impact, the IMF has suggested that governments impose an 85% tax on electricity for AI and mining companies. The fund believes this measure will not only help reduce carbon emissions but also encourage the development of more eco-friendly technologies and practices in these rapidly growing industries.
