Carbon leakage through firms’ supply chain adaptation
Carbon taxes incentivise substitution toward cleaner energy. Pierre Coster, Julian Di Giovanni and Isabelle Mejean discuss carbon leakage in the context of European policies
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Climate
Labour market transitions in a greener economy
The transition to a greener economy will entail reallocating workers from high-polluting to ‘green’ jobs. Emilia Soldani, Maxime Nguyen, Tomomi Tanaka and Orsetta Causa investigate the role of structural and policy factors in the transition
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Climate change and conflict
Climate is increasingly linked to human conflict. Marshall Burke, Solomon Hsiang and Edward Miguel consider the literature and argue for policies like a robust social safety net and political inclusion to ensure a more peaceful future
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Global uncertainty reduces innovation in renewable energy
The green transition faces significant challenges. Luca Bettarelli, Davide Furceri and Pietro Pizzuto examine the impact on innovation due to economic and policy uncertainty
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The trade and industrial nexus
The climate crisis is a global emergency. Trade policy has long been a driver of an unfettered economic globalisation and Isabelle Brachet argues for a new approach
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Keeping the Green Deal on track
There is no green transition without green investment. Jean Pisani-Ferry and Simone Tagliapietra assess the investment needed to achieve the 2030 climate goal and climate neutrality by 2050
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Financing Europe’s grand ambitions
The EU has large investment needs to meet its key priorities. Kalin Anev Janse and Roel Beetsma argue that a first step would be to use existing resources to finance European public goods that benefit all member states
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Net zero and financial stability
Dirk Schoenmaker and Hesse McKechnie argue that central banks should take a macro approach to managing system-wide risks stemming from the climate transition to net zero
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Understanding the economic losses from climate change
Recent research suggests that the impact of climate change on economic output might have been underestimated. Senne Aerts, Livio Stracca and Agnieszka Trzcinska highlight advances in understanding and measuring the economic impact of climate change and the remaining uncertainties
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Sustainable finance: from ‘eureka!’ to action
Climate and nature-related risks are significant financial risks. Frank Elderson argues that they therefore fall within the respective mandates of central banks and supervisors – to preserve price stability and ensure the safety and soundness of banks
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