Episode 2 of the ‘Inclusive Growth Podcast: Post-COP26: how to ensure a fair transition to a green economy?

CPP Co-Director, Zoë Billingham, discusses the fallout from the COP26 conference and where we go next to deliver a fair transition to net zero with Nick Tyrone and Professor Karen Turner. Nick Tyrone is a journalist and CPP Visiting Fellow and Professor Karen Turner is Director of the Centre for Energy Policy at the University of Strathclyde and former Scottish Just Transition Commissioner.

Episode two unpacks where the government has got to on the fair transition to net zero, starting from the premise that the cost of inaction on climate change is far more than the cost of preventative action today. In the UK, CPP estimates that 2.4 million people rely on jobs in with high greenhouse gas emissions – industries which will need to industrially transform or decline over time. In this episode, we discuss how the transition can be delivered in a way that protects those vulnerable to a change from a carbon intense to a greener economy.

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From the Industrial Revolution to the internet, capitalism has been a great engine of human progress. But, according to the Spectator business editor it now stands accused of allowing the greedy few to run riot over the rest of society, exploiting workers and suppliers and recklessly damaging the planet in pursuit of profit. Where did these accusations come from – and are they true?

Martin Vander Weyer will argue in this in-conversation with journalist Edie Lush that capitalism has indeed lost its moral compass, lost public trust and is in urgent need of repair.

This reflective end-of-year event will ask, amongst other questions: Do businesses always operate in a social context? Can a ‘good’ business in a moral sense also be a business that rewards its creators and backers? What does 21st-century capitalism look like? Can faith in entrepreneurship and private-sector investment be reinstalled as a proven path to innovation and prosperity? If so, which of the core principles of our economic systems need revived? And is reaching net zero at the heart of its revival?

This event builds on CPP’s previous work on the Role of Business in Society and on previous discussions such as the role of corporations in levelling up.

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For the last decade, stagnant real wages have squeezed living standards, wealth has become increasingly concentrated and having a job has been no guarantee of stable, secure or sufficient income. The economy is no longer producing the quality of jobs people need to support their families and opportunities vary depending on where people live and what their background is. The pandemic has exacerbated the UK’s longstanding regional inequality and the questions of how to ensure the transition to a green economy - is gaining prominence.

As inequality worsens and the capacity for communities around the world to shake off economic challenges is depleted, the case for switching to a new ‘inclusive growth’ model is intensifying.

At the heart of our work is the belief that inclusive growth can allow individuals, families and communities across the UK to contribute and benefit from shared prosperity. For this to happen, people need access to good jobs and a supportive social infrastructure, including health, skills training and childcare. Economic policy must reflect this and recognise inclusive growth as a driver of productivity, both nationally and locally.

In our first podcast, CPP’s director Charlotte Alldritt speaks with CPP’s Head of Research, Ben Franklin; the Senior Lead of the Inclusive Growth Network hosted by CPP, Annabel Smith; and Ben Lucas, Managing Director at Metro Dynamics.

Our guests will be discussing why inclusive growth has never been more important and what they would like to see in the upcoming Spending Review, Budget and Levelling up White Paper - set to be published by the UK Government.

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