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The Global Energy Prize annually honors outstanding achievements in energy research and technology from around the world that are helping address the world’s various and pressing energy challenges.

Paradigm shift of economics for low-carbon future

Sixth HSE International Academic Conference on Foresight and STI Policy was held on October, 19th. One of the key speakers of the Conference was the member of The Global Energy Prize International Award Committee, the Nobel peace prize laureate Rae Kwon Chung. The scientist dedicated his speech to the paradigm shift of the economy to a low-carbon future.

Rae Kwon Chung is a recognized expert in sustainable development and combating climate change. He is also an Advisor to the Chairman of the leaders group and high-level experts on water and disaster under the UN Secretary General. The winner of the Nobel peace prize looks critically at the existing model of the world economy and he is convinced that democracy and capitalism has outlived themselves. In Rae Kwon Chung’s opinion, democracy is not capable of long-term prospects and "green development".

Why is Dr. Chung dissatisfied with the current economic paradigm? "”The current economic model puts the short-term economic benefits in the forefront – rapid profit growth, control of inflation and so on. But this approach will not lead us to a low-carbon future, will not provide us with social protection,"  – the scientist said. In his opinion, the cost of dealing with climate change should not be considered as a waste of money, It is a long term, vital investments.

Rae Kwon Chung marks environment and the "green economy" as the main drivers of growth. In other words, we can achieve economic growth only by investing in nature and environment. The scientist believes the human resource to be no less important and they should be constantly maintained. It is interesting that Russia, according to the scientist, has a great economic potential and could become a center of "green" technologies.

Dr. Chung has also participated in the discussion of other conference issues, including forecasting of scientific and technological development, formation of scientific and technical policies, methods of analysis and forecasting of the science and technologies spheres, new approaches and tools of research and development management, as well as their practical application.


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