Tag Archives: economics

A Green New Deal for the UK? Part 4

no more excuses smallWe asked individuals from environmental and social justice groups, politics, academia, businesses, and young people to tell us what they think the Green New Deal might mean for the UK. This is the fourth in a series of blogs in which we feature their responses.

 

 

Fernanda Balata, senior researcher and programme manager, New Economics Foundation
Balata square
The Green New Deal is an incredible opportunity for the UK to deliver the transformative economic change that is needed, within the timeframe that we have, to avoid climate breakdown. There are a number of people, organisations and communities all over the UK who have been working to address social, economic and environmental injustice. For too long now, these efforts have remained at the margins of the heavily unbalanced and unfair UK economy.

Rather than making empty promises for a more sustainable and fair economy that works for everyone, whilst continuing to invest in what’s causing the problems in the first place, a Green New Deal is a coherent national framework and investment plan that tackles complex problems head on and shifts the value system of our economy towards what really matters to people and the planet. It’s not just about the outcome, it’s also about the process. The Green New Deal’s power for change should be rooted in places, effectively allowing us all to be a part of that conversation, to collectively make the important decisions which will affect our lives and those of future generations, and take urgent action to the benefit of happier and healthier planet for everyone.

Bryn Kewley, executive member, Socialist Environment and Resources Network
KewleyNothing is as powerful as an idea whose time has come and the notion of a Green New Deal has arrived at the perfect moment. As the Brexit and Trump phenomena mature, we need more popular ideas rooted in good sense to re-establish trust in our institutions, our social contracts, and a rules-based consensus.

In the US it can be a tool to prove the political popularity of action on climate change and investing in our children’s future. In the UK, where for the first time not a single Conservative MP stood up to deny climate change during a recent debate in parliament, the Green New Deal idea has arrived at the confluence between rising climate awareness and an increasingly clear economic case.

The World Economic Forum says fighting climate change could add $26 trillion to the global economy by 2030. The economic opportunities are everywhere, but we’re doing little to drive them with an under supported renewable energy sector, opportunities to build electric vehicles rapidly diminishing and UK export finance focused on the fossil fuels of the past, rather than our growing renewables sector. We need ambitious policy commitments to drive a clean green future that we can all benefit from.

Labour have already announced bold policies in renewable energy, transport decarbonisation and a net zero economy, but also a serious and well-funded commitment to insulate homes which will cut bills and reduce fuel poverty. A UK based Green New Deal wouldn’t just mean good green jobs and better prospects, it’s also how politicians of all stripes prove that they’re listening and are bold enough to act.

A Green New Deal for the UK? Part 1

AOC smallThe first in a short series of blogs where we ask individuals from environmental and social justice groups, politics, academia, businesses and young people to tell us what they think the Green New Deal might mean for the UK. 

As scientific consensus on climate change repeatedly points to evidence that global warming is caused by human activity, an appeal to use policy to address these activities has boosted momentum. The Green New Deal (GND) in the US situates climate change as a major national emergency and integrates economic opportunities to uplift communities and combat man-made global warming. Read more

Let’s use the digital revolution for resource efficiency to raise UK productivity

blue geometric  shape abstract technology backgroundThis post is by Angela Francis, chief economist at Green Alliance, and Caterina Brandmayr, policy analyst at Green Alliance.

UK productivity hasn’t grown for nine years. Investment in digitalisation, also known as the fourth industrial revolution, is one way to kickstart the economy and end economic stagnation. Read more

What have we learned from the financial crisis?

Lucrezia Reichlin

Lucrezia Reichlin interviewed by Julian Morgan

The fourth in our series of seminars with economic experts took place on 4 March. It was a discussion on the lessons from the financial crisis with Lucrezia Reichlin (professor of economics and chair of the economics department at the London Business School). Below is a brief overview of our stimulating discussion, with short audio clips.  Read more

Is green growth an oxymoron?

Is green growth an oxymoron?Our series of seminars with economic experts kicked off last July with a discussion on green growth with Dimitri Zenghelis, co-head of climate policy at the Grantham Research Institute at the LSE.

In our discussion I took the role of a sceptic, looking at critiques of the notion of green growth from different perspectives, ie environmental: challenging the need for growth; and economic: whether greening policies will actually stymie growth. In response Dimitri took the role of a proponent, making the positive case for how we can grow our economy and be green at the same time, so that green growth need not be an oxymoron. (1.55 mins) Read more

Natural capital: if we look after the stocks, will the flows look after themselves?

dieterThe notion of ‘natural capital’ is gaining traction among economists and policy makers. To discuss this I was joined by Dieter Helm at the third in our series of economic seminars. Dieter is both an academic and a practitioner, with a substantial record of applied economic policy analysis in fields such as energy and the environment. He also chairs the Natural Capital Committee (although he spoke in a personal capacity and not on behalf of the committee).

Below is a brief overview of our stimulating discussion, with short audio clips . You can also listen to the full discussion (1 hour 4 mins).  Read more

What should be the state’s role in developing a green economy?

Wind Turbine and sun from belowMany of us believe that the development of a vibrant green economy is vital to Britain’s economic as well as environmental future. But how should we best foster the green economy and is there a role for government intervention? Should the state try to actively stimulate green innovation and industrial development? Or should the ‘bumbling bureaucrats’ simply get out of the way and leave it to the dynamic venture capitalists and entrepreneurs?  Read more