I have done quite a number of podcast interviews with various hosts over the last few weeks and the discussions often turn to issues relating to the environment and what Modern Monetary Theory (MMT) has to say about those issues. Inevitably, the discussions then meandered into debates about what is possible given that we humans…
Climate Change
Governments and businesses keep talking the talk on preventing a catastrophic climate breakdown, while consistently refusing to walk the walk
Another greenwashing climate summit was held in petrostate Azerbaijan in November, in the wake of climate denier Donald Trump’s re-election in the US.
The post Rich countries refuse to pay for climate action at talks in petrostate first appeared on Solidarity Online.
Jenny Clark and Theresa Löber The UK’s climate continues to change, getting wetter and warmer, with extremes becoming ever more pronounced. Even if we limit global warming to 1.5°C above pre-industrial levels, experts warn that we’ll see the number and severity of extreme weather events increase further. Without adaptation, we will see more property, infrastructure … Continue reading Adaptation is to mitigation what Robin is to Batman
"In many ways, this COP was a deep disappointment", those feeling the full force of catastrophic climate change tell the Byline Podcast
Ambrogio Cesa-Bianchi, Alex Haberis, Federico Di Pace and Brendan Berthold To achieve the Paris Agreement objectives, governments around the world are introducing a range of climate change mitigation policies. Cap-and-trade schemes, such as the EU Emissions Trading System (EU ETS), which set limits on the emissions of greenhouse gases and allow their price to be … Continue reading The heterogenous effects of carbon pricing: macro and micro evidence
Benjamin Crampton, Rupert-Hu Gilman and Rebecca Mari. With climate change set to increase the frequency and intensity of flooding in the UK, it is important to deepen our understanding of the potential microeconomic impacts that may propagate into the macroeconomy. We integrate firm-level corporate records, with Ordnance Survey business-premise address information and publicly available flood … Continue reading Staying afloat: the impact of flooding on UK firms
Rebecca Mari and Matteo Ficarra. Floods are the most costly natural disaster in Europe. In the UK, they account for around GBP1.4 billion in annual losses. Yet, evidence on the macroeconomic implications is inconclusive. GDP often shows a puzzling delayed response, and prices can be pushed in opposite directions. Using a novel county level data … Continue reading Weathering the storm: the economic impact of floods and the role of adaptation
COP29 was far from the dramatic turning point in the fight against catastrophic climate change that the world needs
Boromeus Wanengkirtyo, Francesca Diluiso, Rebecca Mari, Jenny Chan, Ambrogio Cesa-Bianchi and Alex Haberis. Climate change is becoming increasingly important for monetary policy as the world transitions into greener economies and climate change’s physical impacts become more prominent. This is complementary, but distinct to, examining how climate change affects financial stability risks (Carney (2015)). This series … Continue reading Climate and monetary policy series