Green New deal in the West. What about the Rest? The 7th edition of the Global Solutions Journal is released ahead of the 2021 Global Solutions Summit

The Global Solutions Initiative (GSI) released its 7th edition of the Global Solutions Journal. Through ongoing exchanges and dialogue with the Think 20 (T20) engagement group, the GSI is a global collaboration which envisions, proposes, and evaluates policy responses to major problems addressed by the G20. This current edition was published under the 2021 Italian G20 Presidency at the 2021 Global Solutions Summit.

The 7th edition of the journal tackled global policy challenges such as vaccine equity, climate change, and digital governance. Encompassing 35 articles covering the aforementioned areas, its contributors ranged from policymakers to academics representing leading research organizations from across the world.

TEPAV’s Program Director, Guven Sak, and Policy Analyst, Omar Kadkoy, contributed with the article, “Green New deal in the West. What about the Rest?” The authors argue that economic growth based on smaller carbon footprints depends on large-scale fixed-capital investments - a scenario feasible in economies with negative interest rates. However, high-risk premiums in developing economies, or the Rest, means high interest rates. Combined with the highly indebted private sector and troubled banking systems, this renders green transformation in the Global South to be rather difficult. The article argues that a truly global and comprehensive plan that brings everyone on par and includes the developing world in the process of green transformation is a must, if not it risks further provoking the already widening divide.

To read the article, please click here.

To read the 7th issue in full, please click here.