Natural Capital, Climate Change and Economic Policy
Detalles
Environmental externalities are becoming an obligatory reference for the world of theoretical and applied economics. Maintaining the planet’s climate balance and preserving its natural capital are no longer the exclusive domain of ecologists and environmental ministries, and have entered fully into the agenda of economic policy managers, including central banks. The growing awareness of the impact that natural capital generates on social well-being is the backdrop to this growing sensitivity of the economic world towards the environment. Added to this is the internalisation of the competitive advantages that a rapid ecological transition can entail for national companies. In this event we will address this intersection between economy and environment, with a debate structured in two panels: the first, focused on natural capital and the climate issue, and its interaction with traditional economic analysis; the second, focused on the consequences of the above on economic policy.
AGENDA
10:30 – 10:45 Opening
Toni Ballabriga. Global Head of Responsible Business at BBVA and member of the Board of Directors of GECV
10:45 – 11:45 Panel “Natural Capital, Climate Change and the Economy”.
The panel will discuss the interaction between climate change, natural capital and the economy. It will deal with the definition of natural capital itself, its measurement and how it is integrated into the scheme of economic accounts, what services ecosystems provide to economic activity and how they are affected by global warming and climate change. Mitigation of the effects of the negative externality generated by GHG emissions into the atmosphere will also be discussed, and the role of the financial system, for which a challenge is presented that must become an opportunity.
Moderator: David Álvarez. Executive Director of Ecoacsa.
Participate:
Eloy Sanz. Professor of Energy Engineering at the Rey Juan Carlos University.
Sandra Magro. Founding partner of Creando Redes.
Julián Cubero. Lead economist of BBVA Research’s climate change cluster.
Luis Martí. Director of Public Policy and Regulation at ACCIONA and Vice President of GECV.
11:45 – 12:00 12:00 – 13:00 Coffee Break
Panel “Economic Policy Implications”
In this panel, we will review what the search for mitigation and adaptation to climate change and the preservation of natural capital, one more productive factor, means for economic policy. The difficult coexistence of very long-term objectives and short-term political economy incentives, as well as the need to ensure a socially just transition, outline the practical feasibility of the different instruments available in fiscal, monetary or supply-side reforms.
Moderator: Rafael Doménech. Head of Economic Analysis, BBVA Research
Participate:
Víctor Ausín. Director General of Macroeconomic Analysis (acting).
Ministry of Economic Affairs and Digital Transformation.
Ángel Gavilán. Director General of Economics and Statistics of the Bank of Spain.
María Teresa Costa. Professor of Applied Economics at the University of Barcelona.
Natalia Collado. Research Economist at ESADE EcPol
13:00 – 13:05 Closure
This event, organized by Grupo Español de Crecimiento Verde, BBVA Research and the Ministry of Economic Affairs and Digital Transformation, will take place in person on November 16, 2023, from 10:30 a.m. to 1:05 p.m., in the BBVA press room, floor 9, at BBVA headquarters.
