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SUMMARY:St Catharine's Political Economy Seminar Series - Richard Lewney '
 Policies to promote low-carbon technological development' - Richard Lewney
DTSTART:20200311T180000Z
DTEND:20200311T193000Z
UID:TALK135337@talks.cam.ac.uk
CONTACT:Philippa Millerchip
DESCRIPTION:*Date:* Wednesday 11 March 2020\n*Time:* 18:00 -19:30\n*Speake
 r:*  Richard Lewney\n*Talk Title:*'The Economics of Getting to Net Zero'\n
 *Location:* Ramsden Room\, St Catharine's College\n\n*Speaker:*\nRichard L
 ewney is Chair of Cambridge Econometrics. Over the past four years Richard
  Lewney has directed two major research projects for DG Energy to improve 
 the methods of modelling the macroeconomic impacts of low-carbon policies.
  These have included a better treatment of the roles played by finance and
  innovation\, of regional and income distribution impacts\, and also of th
 e relevance of other megatrends to the low-carbon transition. Over 2017-19
  Richard Lewney has directed projects for the European Climate Foundation 
 examining: (i) the technological costs and economic impacts of alternative
  pathways to a net-zero GHG emissions European economy by 2050 and (ii) th
 e economic impacts of decarbonising road freight and car transport. Richar
 d Lewney has previously directed a modelling analysis of the economic impa
 ct of environmental degradation to inform an assessment of the role that e
 nvironmental risk factors could play in sovereign credit risk assessments 
 (and for the UNEP Finance Initiative).\n\n*Talk Overview:*\nThe past year 
 has seen some striking examples of extreme climatic events of the kind tha
 t scientists expect to grow in frequency and severity as global temperatur
 es increase. It has also seen a strengthening of political activism in the
  climate strike movement and a flurry of activity among financial institut
 ions seeking to understand their exposure to physical and transition risks
 . Neoclassical economics recognises environmental degradation as a classic
  example of an externality and frames its response in terms of correcting 
 that market failure\, but the limitations of its marginal cost-benefit app
 roach have been exposed in the climate change debate. This seminar explore
 s the role that the key insights of Post-Keynesian and Schumpeterian econo
 mics (such as path dependence\, radical uncertainty\, heterogeneous actors
 \, the role of money and finance\, stock-flow consistency and endogenous t
 echnical change) are playing in forming an analysis of environmental polic
 y that is better adapted to the challenge of tackling global warming. The 
 seminar will discuss what a net zero energy system and economy might look 
 like in 2050\, the policies needed to get there\, how to assess the econom
 ic impacts and what the key obstacles are that need to be overcome.\n\nFor
  other Seminars see: https://www.politicaleconomy.group.cam.ac.uk\n\nPleas
 e contact the seminar organisers Philip Arestis (pa267@cam.ac.uk) and Mich
 ael Kitson m.kitson@jbs.cam.ac.uk) in the event of a query.
LOCATION:The Ramsden Room\, St Catharine's College
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