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

Photo: Bloomberg
Premium

(Photo: Bloomberg)

Jack Copley | The Conversation
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 in rates of growth, productivity, investment and profitability since at least the 2008 financial crisis, with some scholars even dating the onset of the

First Published: Oct 30 2022 | 12:00 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com