Economic growth is playing a major role in climate change. So maybe itโs time we start to envision a world post-growth.
At a United Nations climate change summit in September 2019, environmental activistย Greta Thunbergย took to the stage declaring, โWe are in the beginning of a mass extinction, and all you can talk about is money and fairy tales of eternal economic growth. How dare you!โ
For the world leaders and key decision makers in attendance and for the companies founded on this ideology, economic growth is in fact a fairy tale.
Dreams of infinite resources, universal improvements to well being, and money, money, and more money are sure to help them sleep well at night. But for the environment and the countless communities exploited under this system, growth is closer to a living nightmare.
Deforestation, pollution, inequality and climate change is the reality of economic growth.
What exactly is a growing economy?
Economic growth is the increasing value of goods and services within an economy, measured by the changes in the gross domestic product of a country (GDP).
The increases weโve seen in GDP, however, are closely tied to environmental pressures like resource extraction and the famous, climate change-causing greenhouse gas emissions. This makes sense considering we need resources to make products and provide services and release emissions in doing so.
Many economists today ignore the links between economic growth and environmental degradation but still hold a firm grasp on the decisions governments and companies make, guided by an addiction to growth.
Even current climate mitigation scenarios (i.e., ways to stop climate change) are still based on the assumption that countries should continue to grow their economies regardless of how rich they have become.
This is bad news for the climate since growth almost guarantees increases in the demand for energy and resources in the future, making it harder to reduce emissions.
Some deny these links altogether while others have attempted to break them. The latter is known as decoupling (AKA โgreen growthโ). However, time and time again (1,157 times at the time of this article to be exact), itโs been proven that this decoupling isnโt enough if weโre hoping to stop climate change.
So maybe itโs time for a new system altogetherโฆ
Is that just me or degrowth is becoming cool? pic.twitter.com/BDmiVkLbeC
— Timothรฉe Parrique (@timparrique) December 8, 2021