Sinposis

Economic development, in its traditional formulation, ignores the impact of decisions made regarding energy, resources, and finance. The standard choices made are to use stocks of fossil fuels, stocks of resources and their linear flow, and generic finance. The implications of this are now clear. An alternative is being crafted which is based on flows of renewable energy and renewable fuels, on circular flows of resources, and on greening of financial instruments, such as equities and bonds. This involves a vast industrial revolution, creating the 'next' Great Transformation of the global economic system, one that is creating an economy that emulates life through its interconnections and circular flows. The shift is comprehensive, global, and all-encompassing. Greening of economic development is driven by