Unlocking the strategic economic opportunity of clean and inclusive growth

Patrick Curran, Nick Robins and Nicholas Stern

Financial Stability Review, 2019, issue 23, 29-38

Abstract: Climate change is already harming global development. Further warming will have immenseimpacts on the functioning of economies, societies and ecosystems. Flawed economic models of climate choices continue to underestimate and distort the fullcosts of disruption – as well as the strategic benefits of low-carbon innovation. These flaws are contributing to delays in robust climate action. Unprecedented efforts are now needed to decarbonise the global economy at scale and speed. Importantly, this clean and inclusive growth path will yield strong economic and social benefits. Delivering these benefits requires system-wide efforts from financial policymakers and financial institutions, as a key element of overall policy, at a time of growing geopolitical and economic uncertainty.

Date: 2019
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