In Economics, we often explore the tension between economic growth and the impact it has on our world and this article sheds light on this link → https://www.sciencedaily.com/releases/2023/12/231219124506.htm
A new study shows that economic growth rates make a big difference when it comes to prospects for limiting global warming to 1.5 °C, as per the Paris Agreement. A recent study by the Institute for Environmental Science and Technology of the Universitat Autònoma de Barcelona (ICTA-UAB) shows that pursuing higher economic growth may jeopardise the Paris goals and leave no viable pathways for humanity to stabilise the climate. On the contrary, slower growth rates make it more feasible to achieve the Paris goals.
Specifically, this quote from researcher Giorgos Kallis stood out to me: “Our study shows that pursuing growth constrains the possibilities of limiting dangerous climate change. This finding should encourage policymakers in high-income nations to abandon growth as an objective and consider post-growth policies to achieve improvements in well-being and ecology. In the next step of our work on post-growth scenarios, we aim to provide more clarity on how different economic sectors and activities contribute to emissions and social wellbeing. Doing so will allow us to identify what sectors and activities should be reduced or increased in order to achieve social and ecological goals.” It is important to consider economic trade offs to ensure a better future for the next generation.