“It can be safely said that no widely applicable economic models have been developed specifically for the upcoming era.” So say the researchers of the Finnish BIOS Research Unit in a scientific background document for the upcoming UN Global Sustainable Development Report 2019. “What will happen during the oncoming years and decades when we enter the era of energy transition, combined with emission cuts, and start to witness more severe effects of climate change? What kind of economic understanding and governance models do we need, now that economies are undergoing dramatic rather than incremental change?” While definitely a more challenging read, this week’s pick is highly recommended for those who want to get a better understanding of the wider economic and sustainable development challenges (and alternatives!) related to climate change.
Transitioning the economy