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Andrew W. Lo and Ruixin Zhang
Climate Change, Capitalism and Sustainable Wellbeing
Chapter 1 summarises our best knowledge about the predicted future of global warming and its potentially catastrophic implications for human habitats and human wellbeing. The policy options are summarised, divided between programmes to mitigate climate change and to adapt to it. But climate policy alone could be unjust and inequitable. The goal must be to respect biophysical boundaries while at the same time pursuing sustainable wellbeing: that is, wellbeing for all current peoples as well as for future generations. This means paying attention to its distribution between peoples, and to issues of equity and social justice. Between an upper boundary set by biophysical limits and a lower boundary set by decent levels of wellbeing for all today lies a safe and just space for humanity. The chapter concludes by noting two global landmarks in 2015: the UN Sustainable Development Goals (SDGs) and the Paris climate agreement. Together they reveal a yawning gap between what is needed for a safe climate and the prospects for a just and flourishing society.
The Challenges We Face
Clement A. Tisdell
Outlines the objectives of this book and the reasons for pursuing these. In doing so, it specifies the aim of each chapter and provides a brief account of its contents. It is argued that in order to better assess the nature of our current environmental challenges: we need to consider their basic historical origins; we should take account of the limitations of available economic measures and methods for valuing environmental change; we ought to be aware of the imperfections of scientific predictions about the nature, course and consequences of biophysical attributes altered by environmental change (such as increasing levels of atmospheric CO2); and we should recognize that social embedding (of different types) is a serious impediment to humankind responding effectively to actual or predicted environmental change, especially human-induced environmental change, including human-generated climate change. The importance of each of these assertions is demonstrated and illustrated.
Understanding how cities are shaped by transport priorities through urban fabric theory creates a new and more sustainable approach to the planning and assessment process in transport and town planning. Four tools are developed in this chapter from the theory: (1) a strategic framework that includes the kind of urban fabric within which any project is located; (2) benefit-cost ratios that incorporate wider economic benefits, especially agglomeration economies in each fabric; (3) avoidable costs which assess lost opportunities from the kind of urban development facilitated by the infrastructure chosen; and (4) value capture and value creation opportunities that can help finance the infrastructure if they are used to create walking and transit urban fabric.
Brett Dolter and Peter A. Victor
In this introductory chapter we, the editors, provide an overview of the Handbook on Growth and Sustainability. We begin by clarifying the purpose of this handbook: to contribute to the debate over whether economic growth is compatible with sustainability, and, if it is not, to recommend what can be done to achieve sustainability. We then outline the logic of the handbook structure. The handbook contains 22 chapters (not including ours) divided into five parts. In the first part, entitled ‘What is growth? What is sustainability’, contributors clarify terms and explore some of the history of the growth and sustainability debate. In the second part, ‘Can growth be sustainable?’, contributors present a range of perspectives on this important question. Some contributors answer yes, some answer no, and some say we focus too much on this question and should adopt an agnostic perspective. The third part, ‘Is the end of growth nigh? Sustainability constraints on growth’, features contributors writing about the serious issues that threaten to constrain growth. These include issues such as energy scarcity, food system environmental impacts, and uncertain technological development. Contributors in Part IV, ‘Are there imperatives for growth?’, outline the difficulty of moving away from a growth-based economic system. Growth promises to alleviate unemployment and inequality. Our contributors explore whether these can be alleviated without growth. Our debt-based monetary system appears to depend on growth. Contributors explore whether debt-based money creates a monetary imperative for growth. In the final part, ‘Is it possible to move beyond growth culture?’, our contributors ask what it would take for us to move away from a growth-based economic system. How would employment change? How would culture change? Would we make more of the products we use? Is it possible for humanity to plot a new course, or are we hamstrung by our biological inheritance and incapable of changing quickly enough to avoid calamity? We hope that in the end, whether you read the book in sequence, following the line of argument we set out in this introductory chapter, or use this introduction to select which chapters to read first, the handbook will challenge and clarify your thinking on the growth and sustainability debate.