Sustainable Energy

IMF's Lagarde: If nothing is done about climate change, we will be 'toasted, roasted and grilled'

Chris Somodevilla | Getty Images

There will be serious consequences if climate change is not tackled, according to the managing director of the International Monetary Fund (IMF).

"As I've said before, if we don't do anything about climate change now, in 50 years' time we will be toasted, roasted and grilled," Christine Lagarde said during a panel discussion Tuesday at the Future Investment Initiative in Riyadh, Saudi Arabia.

"Decisions are needed at this point in time, which will probably mean that in 50 years' time oil will be a secondary commodity," Lagarde added. She said this was something that was "well understood" in the Kingdom.

Both climate change and inequality were "two key issues" that would drive us to either utopia or dystopia, Lagarde stated. "If we don't address those two issues — of climate change and growing inequalities