odd @martinwolf_ critique of @UKLabour Green New Deal plans: if these go wrong, it will throw greening into disrepute.
But let's be clear, the status quo is market-led, deregulated decarbonisation that puts City competitiveness in 'green' finance first.
But let's be clear, the status quo is market-led, deregulated decarbonisation that puts City competitiveness in 'green' finance first.
Wolf's solutions are patently unambitious, because he has embraced the (very conservative) IMF climate position: fiscally neutral via carbon price hikes, w tax revenues redistributed to poor. Nothing on monetary/financial measures, and of course, nothing on fiscal expansions.
but elsewhere, IMF researchers and central bankers recognise that carbon pricing is nowhere near enough (given the low global price of carbon), and what we need is a change in the structure of financial assets, monetary and financial policies imf.org/en/Publication…
