Climate Change Centers Debate on Cutting Consumption

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Climate Change Centers Debate on Cutting Consumption

Degrowth economics is the idea that the planet cannot survive endless economic growth. That idea goes against modern economics, where growth is widely considered the best way for nations to build wealth.

But the theory is becoming more accepted. Climate change continues to worsen and supply shortages are giving people a taste of a world with limited resources. The problems have led some economic experts to consider what a degrowth world might look like.

More talks on degrowth

The U.N. climate science agency this year called for cuts in consumer demand, a major degrowth idea. In April, the Intergovernmental Panel on Climate Change declared that cuts to consumer demand were needed to reduce carbon emissions¹. Efforts to reduce carbon emissions were previously² centered on increasing the use of clean fuel technology.

The term has also started to appear in investment notes.

"It is a provocative³ term," said Aniket Shah. He is with the investment banking⁴ company Jefferies. "But it's not about going to a low-income country saying, 'You can't grow anymore'," he said. "It's saying: We need to look at the entire system and see how do we over time decrease total consumption and production in aggregate⁵."

The World Economic Forum⁶, the organization that runs the Davos economic meeting, published a degrowth article in June. The article suggested that "it might mean people in rich countries changing their diets, living in smaller houses and driving and traveling less."

For Jefferies' Shah, those kinds of behavioral changes could make degrowth investments more popular.

He said that the online meeting service Zoom⁷, for example, is a company that could be considered degrowth.

"...I can certainly see how a world that uses more web-conferencing ... means less travel, which is a very high-carbon-intensive way of transportation," said Shah.

Different economic measurements

Some countries have tried to measure economic outcomes differently than just growth. The small Asian nation of Bhutan famously created a "gross national happiness" measurement. Japan is looking into creating a "green GDP" measurement. GDP, short for Gross Domestic Product, means the value of goods and services produced in a country.

But still, economic policy and markets are mostly driven by increasing consumption and production.

Tim Jackson is an economist⁸ who has long criticized that model. He said the pandemic and the Ukraine war both challenged consumption with other concerns, like health or global political goals.

At the same time, some countries could enter a state where their economies show little if any growth. This could be caused by many things like an aging population, limited international trade, or a lack of economic reforms.

Japan is a country that has experienced this. Experts also see it as a risk for Germany unless it quickly reforms its economic model.

"Particularly in the advanced economies we are moving into a situation where to all intents and purposes, we're pretty much not looking at continued growth already," said Jackson. "If we haven't got an economics that will deal with that .. then we've got very little chance of managing it successfully."

Words in This Story

consumer — n. a person who buys goods and services

provocative — adj. causing discussion, thought, argument, etc.

income — n. money that is earned from work, investments, business, etc.

aggregate — n. thought of as a whole ; all together

conference — n. a formal meeting in which a small number of people talk about something

challenge — n. to test the ability, skill, or strength of

advanced — adj. far along in a course of progress or development

1 emissions   

排放物( emission的名词复数 )； 散发物（尤指气体）

参考例句：

• Most scientists accept that climate change is linked to carbon emissions. 大多数科学家都相信气候变化与排放的含碳气体有关。
• Dangerous emissions radiate from plutonium. 危险的辐射物从钚放散出来。

2 previously   

adv.以前，先前（地）

参考例句：

• The bicycle tyre blew out at a previously damaged point.自行车胎在以前损坏过的地方又爆开了。
• Let me digress for a moment and explain what had happened previously.让我岔开一会儿，解释原先发生了什么。

3 provocative   

adj.挑衅的，煽动的，刺激的，挑逗的

参考例句：

• She wore a very provocative dress.她穿了一件非常性感的裙子。
• His provocative words only fueled the argument further.他的挑衅性讲话只能使争论进一步激化。

4 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

5 aggregate   

adj.总计的，集合的；n.总数；v.合计；集合

参考例句：

• The football team had a low goal aggregate last season.这支足球队上个赛季的进球总数很少。
• The money collected will aggregate a thousand dollars.进帐总额将达一千美元。

6 forum   

n.论坛，讨论会

参考例句：

• They're holding a forum on new ways of teaching history.他们正在举行历史教学讨论会。
• The organisation would provide a forum where problems could be discussed.这个组织将提供一个可以讨论问题的平台。

7 zoom   

n.急速上升；v.突然扩大，急速上升

参考例句：

• The airplane's zoom carried it above the clouds.飞机的陡直上升使它飞到云层之上。
• I live near an airport and the zoom of passing planes can be heard night and day.我住在一个飞机场附近，昼夜都能听到飞机飞过的嗡嗡声。

8 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。