Some economists say decades of poorly managed globalisation, overconfidence in the self-regulation of markets, and austerity, have hollowed out governments' ability to respond to crises effectively, and that needs to change.
"As climate records are shattered, and emissions continue to rise ... the Secretary-General will set out some hard-hitting truths about the state of the climate, the grotesque risk leaders are running, and what companies and countries … need to do over the next 18 months to salvage humanity's chances of a liveable future.
"Liberal democracies are today confronted with a wave of popular distrust in their ability to serve the majority of their citizens and solve the multiple crises that threaten our future," it read. "This sense of powerlessness has been triggered by shocks stemming from globalisation and technological shifts, now amplified by climate change, AI and the inflation shock.
"There is a whole body of groundbreaking research on how to design new industrial policies, good jobs, better global governance and modern climate policies for all. It is now critical to develop them further and put them into practice. Make sure industrial strategy is less about giving out subsidies and loans to sectors to stay in place and more about helping those invest and innovate towards achieving goals like net zero
Ensure developing nations have the financial and technological resources they need to embark on the climate transition and the mitigation and adaptation measures without compromising their prospects
United Nations World Environment Day Industrial Policy Globalisation Inequality Economic Growth Climate Change Global Temperatures Environmental Crises Forum New Economy Adam Tooze Dani Rodrik
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