Capitalism’s Green Revolution
UC San Diego’s David Victor looks at how private finance can help decarbonize the economy in new Foreign Affairs essay
The world is making modest cuts in global emissions, but it will require larger incentives to attract the private capital needed to take decarbonization from an intriguing technological concept to reality. David G. Victor, professor of Innovation and Public Policy at the School of Global Policy and Strategy at UC San Diego and a Nonresident Senior Fellow at the Brookings Institution, along with Kassia Yanosek, a partner based in McKinsey’s Houston office and leader in McKinsey’s Global Energy & Materials and Sustainability practices, examine this topic in their most recent article in “Foreign Affairs.”
The article offers a hopeful view of progress on action needed to cut emissions that stop global warming at a time when the world is focused on this question as a big climate conference gets underway today in Dubai. (Victor will attend the conference as part of the Scripps Institution of Oceanography delegation). While about $4 trillion dollars per year in new investment will be needed to stop global emissions in the coming decades, this new article shows how those funds can be raised—and offers examples where the right models for investment are already coming into place.
Read the full article here: https://www.foreignaffairs.com/world/capitalisms-green-revolution
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