It is widely accepted that limiting climate change to 2°C will require substantial and sustained investments in low-carbon technologies and infrastructure. However, the dominance of market fundamentalism in economic thinking for the past three decades has meant that governments have generally viewed large spending programs as politically undesirable. In this context, the Global Financial Crisis (GFC) represented a huge opportunity for proponents of public investment in environmental projects or "Green Keynesianism". This book examines the experience of Australia, Canada, Japan, Korea, and the United States with Green Keynesian stimulus programs in the wake of the GFC. Unfortunately, on the whole, the cases do not provide much optimism for proponents of Green Keynesianism. Much less funding than was originally allocated to green programs was actually spent in areas that would produce an environmental benefit. Furthermore, a number of projects had negligible or even detrimental environmental outcomes. While the book also documents several success stories, the research indicates overall that more careful consideration of the design of green stimulus programs is needed. In addition to concrete policy advice, the book provides a broader vision for how governments could use Keynesian policies to work toward creating an "ecological state". This book will be of great interest to students and scholars of environmental politics, environmental economics, political economy, and sustainable development.
Recent years have seen an explosive increase in investor-state disputes resolved in international arbitration. This is significant not only in terms of the number of disputes that have arisen and the number of states that have been involved, but also in terms of the novel types of dispute that have emerged. Traditionally, investor-state disputes resulted from straightforward incidences of nationalisation or breach of contract. In contrast, modern disputes frequently revolve around government measures taken to further public policy goals, such as the protection of the environment. This book explores the outcomes of several investor-state disputes over environmental policy. In addition to examining the pleadings of parties and decisions of arbitral tribunals in disputes that have been resolved in arbitration, the influence that investment arbitration has had in negotiated outcomes to conflicts is also explored.
Stimulus spending to address the economic crisis brought on by the COVID-19 pandemic has the potential to either facilitate the transition away from fossil energy or to lock in carbon-intensive technologies and infrastructure for decades to come. Whether they are focused on green sectors or not, stimulus measures can alleviate or reinforce socio-economic inequality. This Element delves into the data in the Energy Policy Tracker to assess the extent to which energy policies adopted during the pandemic will expedite decarbonization and explores whether governments address inequities through policies targeted to disadvantaged, marginalized and underserved individuals and communities. The overall finding is that the recovery has not been sufficiently green or just. Nevertheless, a small number of policies aim to advance distributive justice and provide potential models for policymakers as they continue to attempt to 'build back better'. This title is also available as Open Access on Cambridge Core.
It is widely accepted that limiting climate change to 2°C will require substantial and sustained investments in low-carbon technologies and infrastructure. However, the dominance of market fundamentalism in economic thinking for the past three decades has meant that governments have generally viewed large spending programs as politically undesirable. In this context, the Global Financial Crisis (GFC) represented a huge opportunity for proponents of public investment in environmental projects or "Green Keynesianism". This book examines the experience of Australia, Canada, Japan, Korea, and the United States with Green Keynesian stimulus programs in the wake of the GFC. Unfortunately, on the whole, the cases do not provide much optimism for proponents of Green Keynesianism. Much less funding than was originally allocated to green programs was actually spent in areas that would produce an environmental benefit. Furthermore, a number of projects had negligible or even detrimental environmental outcomes. While the book also documents several success stories, the research indicates overall that more careful consideration of the design of green stimulus programs is needed. In addition to concrete policy advice, the book provides a broader vision for how governments could use Keynesian policies to work toward creating an "ecological state". This book will be of great interest to students and scholars of environmental politics, environmental economics, political economy, and sustainable development.
Stimulus spending to address the economic crisis brought on by the COVID-19 pandemic has the potential to either facilitate the transition away from fossil energy or to lock in carbon-intensive technologies and infrastructure for decades to come. Whether they are focused on green sectors or not, stimulus measures can alleviate or reinforce socio-economic inequality. This Element delves into the data in the Energy Policy Tracker to assess the extent to which energy policies adopted during the pandemic will expedite decarbonization and explores whether governments address inequities through policies targeted to disadvantaged, marginalized and underserved individuals and communities. The overall finding is that the recovery has not been sufficiently green or just. Nevertheless, a small number of policies aim to advance distributive justice and provide potential models for policymakers as they continue to attempt to 'build back better'. This title is also available as Open Access on Cambridge Core.
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