Retrofitting existing buildings is a far better green strategy than demolition and reconstruction. Putin’s war machine is achieving the exact opposite, and at a staggering human cost.

A common feature of the global climate crisis and the 2008 global financial crisis is the presence of destabilising feedback loops. In a new column in VoxEU, INET Oxford’s John Muellbauer and Janine Aron explore these feedback loops and system tipping points and discuss their implications for policymakers. They further observe that Vladimir Putin’s invasion of Ukraine has created immediate stresses for the global financial system and will add to the major stresses already on the global climate system, potentially leading to further instability. Policymakers need to be ahead of these feedback loops by both increasing the robustness of the financial system and accelerating the clean energy transition.

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