“Don’t Worry About Climate Change - It is Just an Externality”

In that moment time stopped. I looked around the room, flabbergasted that what will bring down the economy, and humanity in general, was so easily ignored. 

It was 2015. I had been invited to a world leading business school, alongside MBA students across the global energy sector.

The economics lectures blew my mind. There was a sense of power and affluence that accompanied the economic narrative, shared like exclusive codes to success. I started to find the models of macroeconomics exciting, and supply and demand really easy to grasp. Until I realised that it was too simple.

That very same moment my hand shot up. Without thinking I blurted out ‘But what about climate change?’

‘Oh, that’s just an externality!’ I was told, rather smugly.

Time stopped. Wide-eyed, as I gazed around the room, I expected my fellow students to react in some way. Perhaps someone would raise an eyebrow or send me a knowing look?

Nothing. No one else noticed. They got on with their work, and their careers rising to the top of major oil and gas corporations. Either unwilling or unable to acknowledge existence of this question. Had I just committed career suicide?

Feeling alone in my economic pondering ate away at me. Until Kate Raworth burst onto the scene two years later with Doughnut Economics – Seven Ways to Think Like a 21st Century Economist. Not only had she asked the question, she had dismantled limited economic models and proposed an alternative. Grounded in reality.

A decade after my shockingly inadequate economics lecture, I am delighted to be surrounded by leaders who think the same. By joining the Wellbeing Economy Alliance, Climate Calm™ has become part of a global movement of changemakers putting well-being at the heart of the conversation.  

A Well-being Economy is designed to serve people and planet.

By placing value on health and well-being, it invests for example, in green open spaces and cycle routes. Creating healthier communities and reducing healthcare costs, and simultaneously responding to climate change. When you consider the costs of personal and planetary health crises, it makes greater economic sense.

Common sense aside, in a well-being economy we place value on the things that matter. How much is your health and happiness worth?

Ready to delve deeper? Here are the books I wish I had in my handbag back then. Perhaps I could have thrown them across the room…

#wellbeingeconomy #greeneconomy #sustainablegrowth #economicempowerment