ECONOMICS

The economic implications of climate change are vast. This section focuses solely on what will happen if we do nothing, and what will happen if we do something. Of course, there is a great deal in between as we work our way to a renewable future.

We are also looking to share opportunities to wield influence to encourage action – for individuals, communities, financial organizations (such as pension funds) and corporations, including insurance companies.

Within this section, you will find information on investing and divesting to facilitate a green economy.

And, on another financial note, you may well find information on sustainable products (like boxed water instead of plastic) from time to time.

CURRENT NEWS

KEY RESOURCES

Addressing Climate as a Systemic Risk: A call to action for U.S. financial regulators

This Ceres report outlines how and why U.S. financial regulators, who are responsible for protecting the stability and competitiveness of the U.S. economy, need to recognize and act on climate change as a systemic risk.

Moving To A Finite Earth Economy – Crew Manual

Moving To A Finite Earth Economy By 2030 Addresses Two Critical Human Issues: The Existential Threat Of Climate Change, And The Fact That Growth Economies Are The Root Cause.

Resources as a Constraint on Growth By William D. Nordhaus

Things which have traditionally been treated as free goods-air, water, quiet, natural beauty-must now be treated with the same care as other scarce goods.

MORE NEWS

State of the Planet

The Role of Finance in Achieving Sustainability

By Kelsie DeFrancia 4/17/20

Last month, the Earth Institute celebrated the publication of a new book and heard from panelists on the role of harnessing financial acumen to achieve long-run sustainability. …

Vox

A just and sustainable economic response to coronavirus, explained

By David Roberts Photo: Chip Somodevilla/Getty Images 3/25/20

After days of tense negotiations — and Democrats twice blocking the nearly $2 trillion package — the Senate and Treasury Department appear to have reached important compromises on legislation to shore up the economy. |…

the new republic

A Moderate Proposal: Nationalize the Fossil Fuel Industry

By Kate Aronoff Photo by Mark Wilson 3/17/20

We’re facing a shale crash, a likely recession, and a surefire climate crisis. One particular policy could help solve all three problems.

the sarasota institute

Reinventing Capitalism

By Bob Leonard 2/13/20

Mankind is faced with a profound dilemma. To resist growth is to risk economic collapse. To continue to pursue growth relentlessly ensures collapse of our ecosystem which supports all life. For the most part, this…

The next president can force the financial sector to take climate change seriously

Obama, Dodd, and Frank. | Chip Somodevilla/Getty Images With the help of Dodd-Frank, the president won’t need Congress. A growing chorus of voices is warning that the financial system — big banks, insurers, and other…

the New Yorker

CAN WE HAVE PROSPERITY WITHOUT GROWTH?

By John Cassidy Photo by Till Lauer 2/3/20

In 1930, the English economist John Maynard Keynes took a break from writing about the problems of the interwar economy and indulged in a bit of futurology. In an essay entitled “Economic Possibilities for Our…

THE New York TIMES

Climate Change Could Blow Up the Economy. Banks Aren’t Ready

By Jack Ewing Photo by Matthew Abbott 1/23/20

Climate change has already been blamed for deadly bush fires in Australia, withering coral reefs, rising sea levels and ever more cataclysmic storms. Could it also cause the next financial crisis?

CNBC

Mnuchin says Greta Thunberg can tell us what to do ‘after she goes and studies economics in college’

By Sam Meredith Video by CNBC 1/23/20

U.S. Treasury Secretary Steven Mnuchin sharply criticized the financial credentials of Swedish climate activist Greta Thunbergon Thursday, saying the 17-year-old should study economics at college before lecturing the U.S. on fossil fuel investments.

The Washington Post

Mnuchin said Thunberg needed to study economics before offering climate proposals. So we talked to an economist.

By Philip Bump 1/23/20

The Washington Post contacted someone who did study economics in college and asked him to explain it to us.

Economic heavyweights highlight climate risks

Economic heavyweights highlight climate risks By Jonathan Marshall, CCL Economics Policy Network Whatever you think of billionaires, it’s almost always better to have them on your side rather than as foes. That’s why news from…

Reuters

Warren calls on big U.S. banks for steps on climate risk

By Ann Saphir and Lindsay Dunsmuir Photo: Brian Snyder/REUTERS 1/22/20

SAN FRANCISCO/WASHINGTON (Reuters) – U.S. Senator Elizabeth Warren, a contender for the Democratic Party’s presidential nomination, is asking the biggest U.S. banks for details on their assessments of and preparations for risks related to global…

ABC NEWS

Climate change and economic inequality loom large as the powerful descend on Davos

By Catherine Thorbecke Photo by Denis Balibouse 1/21/20

The world’s political and economic elite are descending on the small Swiss Alps town of Davos this week for the annual World Economic Forum meeting where they hope to set this year’s “global, regional and…

Bloomberg

Here’s What Putting $10,000 in These Assets Would Have Returned in 2019

By Gregor Stuart Hunter and Eric Lam 12/29/19

In 2018, seemingly every asset class was a loser. In 2019 it’s been the reverse, with opportunities abounding — and some of the biggest winners have come from unexpected corners of the market.

Why Climate Change Hurts the Poor the Most

By Mallika Khanna If you’ve read anything about climate change over the past year, you’ve probably heard about the IPCC report that gives a 12-year deadline for limiting climate change catastrophe. But for many parts…

Climate Crocks

Climate Adaptation, but Only for the Rich

By Peter Sinclair 21/03/19

In November, as wildfires ripped through California, Kim Kardashian hired a squad of private firefighters to protect her $50m estate in Calabasas. During the aftermath of Hurricane Katrina in 2005, Blackwater security guards defended the houses…

bloomberg

Climate Challenge Will Be Harder Than It Seems, JPMorgan Executive Warns

By Christopher Flavelle Photo by Carla Gottgens 03/20/2019

The world isn’t cutting carbon emissions anywhere near quickly enough, a senior executive at J.P. Morgan Asset Management told clients this week — and changing that will require far harder choices than most people realize.

The New Yorker

The False Choice Between Economic Growth and Combatting Climate Change

By Carolyn Kormann 04/02/19

In 1974, the economist William Nordhaus described the transition from a “cowboy economy” to a “spaceship economy.” In the former, he wrote, “we could afford to use our resources profligately,” and “the environment could be…

The New Yorker

The False Choice Between Economic Growth and Combatting Climate Change

By Carolyn Kormann Photo: Fernando Moleres / Panos Pictures / Redux 2/4/19

Medium

The Economics of Climate Change Explained

By Brayden Gerrard 21/01/19

Climate change is well known for its destructive impacts — ranging from rising sea levels to more fierce natural disasters.

Wired

Bitcoin Will Burn the Planet Down. The Question: How Fast?

By Adam Rogers 11/5/18

Max Krause was thinking of buying some bitcoin, as one does. But Krause is an engineer—mostly he works on modeling greenhouse gas emissions from landfills—so his first step was to run the numbers.

Bloomberg

Pension Funds Point Finger at Lobbyists of Polluting Companies

By Anna Hirtenstein Photo: Chris Ratcliffe/Bloomberg 28/10/18

A group of pension funds that control $2 trillion are pushing for 55 large European energy, mining and transportation companies to scale back their anti-climate lobbying.

Axios

Where climate change will hit the U.S. hardest

By Eileen Drage O'Reilly and Alison Snyder 23/06/18

Left unmitigated, rising temperatures from climate change will increase inequality and mortality rates in the U.S. by the end of the 21st century, a team of economists and climate scientists warn in astudy published today. It’s…