Po have a chance of being heard and acted upon, a cry of alarm must not only be relevant to what it denounces, it must also intervene at the appropriate time. The warning launched, Wednesday, November 9, by the economist Jean Pisani-Ferry in a note submitted to the government fulfills these two conditions. Soberly titled “Climate action: an economic challenge”, this document insists on the urgency of taking the measure of the gigantic transformation of the French economy called for by the ecological transition.
For Mr. Pisani-Ferry, it is necessary to get out of the pretense and the unthought, which prevent a correct assessment of the macroeconomic impacts linked to climate issues. On the one hand, there are the proponents of “green growth”, who advocate a kind of continuum of the macroeconomic policies carried out until now, modified at the margin by a few measures in favor of the environment. On the other hand, there are the followers of a radical decrease ready to sacrifice on the altar of the climate the creation of wealth which should make it possible to release the financial means to avoid the announced catastrophe.
To achieve the objective set under the Paris Agreement, France will have to deploy considerable financial efforts, which are currently significantly underestimated. In this denial of reality, government, political parties, administrations and economists must be sent back to back.
Existential question
Jean Pisani-Ferry, who was one of Emmanuel Macron’s economic advisers during his 2017 campaign, demolishes the idea that the ecological transition will only be a source of opportunities and the fulfillment of a society in search of meaning. Above all, it will be synonymous with efforts, giving up a certain level of comfort and focusing priorities on this objective, which is not a classic political choice. This is an existential question, which requires unprecedented mobilization, the impact of which on growth, inflation, public finances, competitiveness, employment and inequalities must be taken into account.
It would be irresponsible to continue to play down these changes on the pretext of making them more acceptable. On the contrary, we must display them, anticipate them, explain them and above all give ourselves the means to finance them.
For a long time, this message was not audible, because society had finally convinced itself that settling this question would be the business of future generations. With the energy crisis and the multiplication of extreme climatic phenomena, the perspective has changed abruptly. But, if collective awareness has made considerable progress, the consequences have not been drawn, namely that the fight against global warming is still not at the center of the political debate and that its funding remains very insufficient. .
The discourse on ecological transition needs to regain credibility and sincerity, in order to restore confidence in our ability to influence the climate trajectory. The prerequisite is to clearly state the subject, without trying to put the difficulties into perspective, in an attempt to find a minimum consensus on how to share the efforts between the State, companies and households.
This transformation will not be a path of roses, but the political power must seize this opportunity as a means of combating the polarization of society and the disinterest of youth in politics. All the more reason to become aware of the cliff at the foot of which we find ourselves.