Home / World News / What long-term stagnation of global economy means for climate change

What long-term stagnation of global economy means for climate change

The global economy has been trapped in a state of relative stagnation in rates of growth, productivity, investment, and profitability since at least the 2008 financial crisis

Premium

(Photo: Bloomberg)

5 min read Last Updated : Oct 30 2022 | 12:00 PM IST

The financial shock the UK has recently suffered is of course bad for green investment. The Rishi Sunak-led government is also likely to use this crisis to push for further public spending cuts that will rule out a truly transformative green agenda.

However, in my recent academic paper I argue that the economic obstacles to effective decarbonisation are more deeply entrenched than that. We can’t simply blame a bad government budget or even the global market turmoil sparked by Russia’s invasion of Ukraine.

Instead, the global economy has been trapped in a state of relative stagnation

Topics : Climate Change Recession Global economy

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in