Overview
The Economics of Sustainability Programme seeks to understand the economy and environment as a deeply interlinked complex system and is working to gain insights into how the human economic part of this integrated system might be transformed to become more sustainable.
Economics has often viewed the economy and Earth's physical and ecological systems as separate domains. It frequently does not account for the economy's need for energy and material inputs and views pollution as an "externality." The Economics of Sustainability Programme is attempting to understand the economy and environment as a deeply interlinked complex system and is working to gain insights into how the human economic part of this integrated system might be transformed to become more sustainable. The programme is looking at new ways to take into account natural capital, measure wealth creation, stimulate green technology innovation, and assess climate and economic risk. It is also looking at new methods of modelling economy-ecosystem interactions to better understand the impact of climate policies on economic growth, employment, and political economy, and to understand socioeconomic tipping points and dynamic effects in the transition to a post-carbon society. The programme is also examining the institutional innovations needed to transition to a sustainable economy. The programme is directed by Prof. Cameron Hepburn and is conducted in partnership with Oxford's Smith School of Enterprise and the Environment.
