Join the GSI for our first seminar of the year with Dr Jean-Francois Mercure, Associate Professor in Climate Policy and Assistant Director of the Global Systems Institute, on ‘Rethinking climate policy: Economics of innovation and resource creation’.
A low-carbon transition is unfolding. Many zero-carbon technologies are on the verge of, or have already, crossed cost competitiveness with brown technologies, and are becoming disruptive for the brown economy globally. Their diffusion may follow tipping points and become self-propelling. The ‘mid-transition’ period, when economic transformation unfolds the fastest, could become a disorderly period of economic, financial and social volatility and instability.
In this seminar, I will develop an assessment of economic impacts of the transition, going beyond costs and benefits to those that matter to people: economic stability risks, inflation, jobs, structural transformation and the not widely discussed risk of currency crises. I develop a model of economic risk and resilience to guide climate policy-making. I argue that policy-makers must rethink climate policy much beyond tax/subsidy schemes, moving on from focusing on economic efficiency going towards creating economic capacity and resilience.
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