Our new paper with @DanielaGabor and @JoMicheII on the #WallStreetConsensus and the climate crisis is out. Thread
tandfonline.com/doi/full/10.10…
tandfonline.com/doi/full/10.10…
We explain how the pandemic has reinforced the dominance of the #WallStreetConsensus due to the growing fiscal deficits in the Global South and the new central bank liquidity measures. 1/n
We frame the recent turn of the #WallStreetConsensus to climate issues as a strategic response to Green New Deal discourses that put the state at the core of green transformations. 2/n
We analyse four #WallStreetConsensus climate policy tools: (1) climate infrastructure as an asset class, (2) climate rescuer of last resort, (3) disclosure of climate-related financial risks and (4) carbon pricing. 3/n
We explain how the combined use of these measures will increase financial vulnerability in the Global South and do little to achieve climate-aligned development. 4/n
We point out that the #WallStreetConsensus fails to address climate justice issues and we explain why it is inconsistent with the urgency and the complexities of the climate crisis. 5/5
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