The Transition to a Green Economy
The Transition to a Green Economy
Part III draws the threads together to discuss the emergence of this new model of “green development”, or green growth capitalism. Chapter Seven is concerned with the process of transition itself, emphasizing the barriers and difficulties encountered by any change on the scale of the new greening trajectory. The greening of markets for energy, commodities and capital can be expected to propagate to encompass the entire economy, through multiple inter-firm connections and driven by competitive forces. Green products will call for new value chains that will propagate via intermediate suppliers and aggregators back to ultimate commodity suppliers, where the greening of commodity markets will exert their effects downstream. The barriers that stand in the way of this emergent system are formidable, from the protection of vested interests and continuation of subsidies to fossil fuels, to the clash of sectional interests. Ultimately it is strong states that drive fundamental change.
Keywords: Technoeconomic paradigm shift, logistic industrial dynamics, market-based incentives, carbon markets, carbon tax, feed-in tariffs, market mandates
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