need to leverage the power of people to achieve the vision of a prosperous, inclusive,
climate and pandemic resilient society with a circular, net-zero emissions economy.
The IPCC report explicitly refers to the need for “rapid far-reaching and unprecedented changes in all aspects of society”. Incremental changes will not be enough.
What is needed now is a fundamental transformation of economic, social and
financial systems that will trigger exponential change in strengthening social, economic, health and environmental resilience. We need big thinking and big changes.
System innovation and transitions thinking can help and calls for intense public
participation.
Following the 2008 financial crash, we saw public funds flow disproportionately
to polluting industries and to society’s most wealthy. This must not happen again.
We must start investing in what makes our socio-economic system resilient to crisis,
by laying the foundation for a green, circular economy that is anchored in naturebased solutions and geared towards public well-being. Now is the time to usher in
systemic economic change and the good news is that we have our blueprint: it’s the
combination of UN Agenda 2030 (17 SDG) and European Commission’s European
Green Deal. Now is the time for financial institutions and governments to embrace
EU taxonomy for sustainable investments (2019), to phase out fossil fuels by
deploying existing renewable energy technologies, eliminate fossil fuel subsidies –
amounting to 5.2 trillion per annum – and redirect them to green and smart climate
mitigation and adaptation infrastructural projects, invest in circular and low carbon
economies, shift from industrial to regenerative agriculture, exploit the limits of the
digital revolution, and reduce transportation needs.
A decisive march along this sustainable pathway will enhance economic and
environmental resilience, create jobs, and improve health and well-being in both
rural and urban communities. The transition should be inclusive and “leave no one
behind”, that is why finance should be directed not only to those who are sustainable
or have the potential to become sustainable, but also to those who are willing to
commit and be monitored henceforth, to learning how to become sustainable.
Such a decisive march is of upmost importance for our seas and oceans!
Never waste a good crisis!
Prof. Dr. Phoebe Koundouri
Ecali, Athens
May 2020
Acknowledgements
xi
climate and pandemic resilient society with a circular, net-zero emissions economy.
The IPCC report explicitly refers to the need for “rapid far-reaching and unprecedented changes in all aspects of society”. Incremental changes will not be enough.
What is needed now is a fundamental transformation of economic, social and
financial systems that will trigger exponential change in strengthening social, economic, health and environmental resilience. We need big thinking and big changes.
System innovation and transitions thinking can help and calls for intense public
participation.
Following the 2008 financial crash, we saw public funds flow disproportionately
to polluting industries and to society’s most wealthy. This must not happen again.
We must start investing in what makes our socio-economic system resilient to crisis,
by laying the foundation for a green, circular economy that is anchored in naturebased solutions and geared towards public well-being. Now is the time to usher in
systemic economic change and the good news is that we have our blueprint: it’s the
combination of UN Agenda 2030 (17 SDG) and European Commission’s European
Green Deal. Now is the time for financial institutions and governments to embrace
EU taxonomy for sustainable investments (2019), to phase out fossil fuels by
deploying existing renewable energy technologies, eliminate fossil fuel subsidies –
amounting to 5.2 trillion per annum – and redirect them to green and smart climate
mitigation and adaptation infrastructural projects, invest in circular and low carbon
economies, shift from industrial to regenerative agriculture, exploit the limits of the
digital revolution, and reduce transportation needs.
A decisive march along this sustainable pathway will enhance economic and
environmental resilience, create jobs, and improve health and well-being in both
rural and urban communities. The transition should be inclusive and “leave no one
behind”, that is why finance should be directed not only to those who are sustainable
or have the potential to become sustainable, but also to those who are willing to
commit and be monitored henceforth, to learning how to become sustainable.
Such a decisive march is of upmost importance for our seas and oceans!
Never waste a good crisis!
Prof. Dr. Phoebe Koundouri
Ecali, Athens
May 2020
Acknowledgements
xi