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6 professional article found
World without cash?
TAB report on changes in traditional banking and payment systems and changes in its power structure provides an overview of developments in the payment traffic and changes in its power structure.In Germany, cash is the only unrestricted legal tender and still the most commonly used means of payment. Compared with non-cash means of payment, cash is an important corrective in payment transactions. ...
Climate change and global finance: Is the financial sector reaching a tipping point?
In January 2020, viewers of the U.S. business channel CNBC witnessed an unusual scene. U.S. stock market guru Jim Cramer, who rose to fame as an author of books whose titles usually include the words “get rich,” was asked about the prospects for oil and gas stocks, such as Chevron or Exxon. His answer was surprising: “I’m done with fossil fuels. They’re done. They’re just done.” ...
An Economic Case for the UN Climate Targets: Early and strong climate action pays off
Climate action is not cheap – but climate damages aren’t, either. So what level of climate action is best, economically speaking? This question has puzzled economists for decades, and in particular, since the 2018 Nobel Prize in Economics went to William Nordhaus, who found 3.5 degrees of warming by 2100 might be an economically desirable outcome. An international team of scientists led by the ...
Reinventing Prosperity
The biggest challenges facing the rich world today are persistent unemployment, widening income inequality, and accelerating climate change. Until now, most of the solutions to these problems have been politically unacceptable, in a world marked by short-termism and a desire for continuous economic growth.In Reinventing Prosperity, Graeme Maxton and Jorgen Randers take a radically different ...
High costs when environmental protection is neglected
Excessive amounts of greenhouse gases, air pollutants and other environmental pollutants harm human health, destroy ecosystems and foster the extinction of animals and plants. Another result: economic losses including loss of production, crop losses or damage to buildings and infrastructure. There are established scientific methods which express this damage in monetary terms. The German ...
Just & In-Time Climate Policy: Four Initiatives for a Fair Transformation
Limiting global warming to well below 2°C requires the rapid decarbonization of the global economy. If this enterprise fails, we will jeopardize the life-support systems of future generations. The longer the transformation towards climate compatibility is delayed, the more severe the risks and damage will be for a growing number of people. The transformation requirements and the damage caused by ...