Economics

Towards a Decarbonised World: The What and Why of Carbon Trading 

Carbon trading is a market-based instrument designed to reduce greenhouse gas emissions by creating financial incentives to do so. It occurs within various carbon trading markets, usually operating within regulated emission trading schemes (ETSs) such as the EU Emissions Trading Scheme (EU ETS). ETSs can be both voluntary or mandatory and differ in sectoral and […]

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Green Bonds: Challenges, Opportunities, and Their Precarious Place in a Sustainable Future

According to  the International Capital Markets Association (ICMA) [1], green bonds are “any type of bond instrument where the proceeds or an equivalent amount will be exclusively applied to finance or refinance, in part or in full, new and/or existing eligible Green ProjectsThe first green bond was issued by the World Bank in November, 2008

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The Plight of ESGs: the Decarbonization Dream Delayed

Despite environmental, social and governance (ESG) investing being a source of enormous growth in recent years, it is becoming increasingly likely to hinder the decarbonisation agenda. This is rather concerning as governments race towards reducing emissions; the Paris Agreement aims towards carbon neutrality by 2050. However, the combination of surging oil prices, cost pressures for

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The Climate Crisis of the 21st Century
Macroeconomic Implications and Policy Responses

Floods, heatwaves and sea level rises – the increasingly present implications of climate change are widely known to the general public. Less well known, however, is that the climate crisis of the 21st century poses tremendous risks to the world economy and financial stability. According to Willem Buiter, extreme implications of global warming could depress

The Climate Crisis of the 21st Century
Macroeconomic Implications and Policy Responses
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