Economic growth has received significantly more attention globally over the last few years. While traditional growth has been very visible through the consumption of resources, the resources required to sustain the current level of economic growth may not be available over the next decades. Constraints on available resource, and any associated political interventions, may limit global economic growth over the upcoming decades.
This is the focus of new research led by the Institute and faculty of Actuaries. Carbon Tracker’s work around the possible implications of climate change on physical assets as well as the consequences of political interventions is highly relevant to this work. As such, our Unburnable Carbon report features as a pertinent example.
The report suggests ‘if society decides to limit carbon emissions the confidence of those in the abundance of reserves as a basis for optimism with regards to wealth creation, and in technology to fix the gaps, are called into severe questioning’.
The research team comprised: Dr Aled Jones, Irma Allen, Nick Silver, Catherine Cameron, Candice Howarth and Ben Caldecott.
To read the full report click here