Article in Journal

The Green Industrial Revolution: Lessons from the History of Past Energy Transitions

Alessio Terzi, Roger Fouquet
CESifo, Munich, 2023

EconPol Forum 24 (6), 16-22
PDF Download
  • The challenges associated with today’s green transition echo dynamics during past energy revolutions
  • Improvements in energy efficiency and sobriety can be part of a decarbonization strategy but with muted impact
  • An effective and credible climate policy must be chiefly targeted at accelerating a Green Industrial Revolution
  • Governments have many tools to do so, including taxation, regulation, public investment, and industrial policy
  • Cushioning blows to income and consumption of low-income households will be important in avoiding social backlash, slowing decarbonization

Included in