Climate Policy from a Keynesian Point of View Paper People may arrive in one or the other of these camps for many reasons. Advocates of the investment-centred approach tend to link climate policy to broader concerns over economic justice. Developments like the Gilets Jaunes protests in France, and more recent responses to rising energy prices in the wake of the war in Ukraine, have raised doubts about the viability of aggressive carbon pricing, making an investment-centred approach more attractive. More subtle, but equally important, are the different underlying economic visions behind the two approaches to climate policy. This paper brings these submerged differences to the surface. By J. W. Mason
The Role of Financial Markets in a Green Transformation Paper What is the role of financial markets in a green transformation? There are two key aspects to this question. First, what should be the balance between private and public funding of the transformation? Second, what are the dangers that our modern financial market structure poses to a successful green transformation? By Carolyn Sissoko
Green Central Banking Paper The green turn in central banking has generated considerable controversy. Some voices have questioned central banks’ growing engagement with climate issues, arguing that unaccountable technocrats do not have the tools or the political legitimacy to intervene in (or possibly highjack) the low-carbon transition. Others question the continued emphasis on voluntary decarbonisation, even among green champions in the central bank community. This paper intervenes in and nuances this “too little vs too much” debate. By Daniela Gabor
Changing Europe’s Fiscal Rules: Unleashing public investment for a socially just Green Deal Paper This paper critically examines whether the European fiscal framework will be sufficient to stabilise the macro economy in the aftermath of the multiple crises, let alone achieve the goals of a green transition that leads to full capacity utilisation of the economy. The reader will come to understand that private finance alone is neither sufficient nor desirable to achieve the goals of a socially just green transition. By Frank van Lerven
Winning the Marathon and the Sprint: Achieving long-term economic policy objectives in an era of short-term responses Paper This article wants to provide food for thought on what a long-term economic policy could look like. In the context of the climate crisis, increasing inequality, the loss of biodiversity and financial instability, the challenge is to craft a strategic approach that can set the course for long-term success. By Jonathan Barth , Jakob Hafele and Adam Tooze
Making the great turnaround work: Preface Preface This publication series aims at contributing to the emergence of a transformative economic thinking, integrating environmental, social, and economic dimensions, after the wreckage of neoliberal economic thought that clearly has reached its date of expiry. It is the product of a collaboration of the Heinrich-Böll-Stiftung, the ZOE Institute for future-fit economies, and Finanzwende Recherche. By Jörg Haas
Sustainable Prosperity in an Uncertain Future: A shared agenda between green growth and degrowth Paper This paper attempts to overcome the polarisation between inclusive green growth and degrowth. The authors suggest that the idea of “post-growth” can serve as a unifying concept and define the pillars of a progressive economic policy agenda that can help Germany, the European Union, and the United States achieve their net-zero ambitions while ensuring prosperity and reducing inequality. By Jonathan Barth and Michael Jacobs
From the roads to the rails: European freight transport and green logistics European Mobility Atlas 2021 For about two decades, the logistics industry has become more serious about sustainability. Although a validated definition of “green logistics” does not yet exist, the reduction of CO2 emissions can be regarded as an important part of the concept. In freight transport, heavy goods vehicles on roads are by far the biggest emitter of greenhouse gases, while rail is the smallest. Nevertheless, the shift from road to rail – a central target of EU transport policies – struggles to get off the ground. By Werner Balsen
Green jobs: the rhetoric and the reality Commentary Britain has been promised a quarter of a million ‘green jobs’. But as the government continues to struggle to contain Covid-19, the details are lacking. Ros Taylor looks at the scale of the UK’s ambition and some of the obstacles to decarbonisation. By Ros Taylor
The New Economy of Nature Dossier How did forests become ‚natural capital‘? Our web dossier illustrates what the concept of the „New Economy of Nature“ stands for and explains nature’s role in the Green Economy.