“Degrowth” in OECD countries would have little impact on the climate problem

There is talk of “degrowth” in OECD countries as a means to obtain a sufficient reduction in CO 2 emissions. But the desire for growth remains very strong in all emerging countries, including China, as shown by the stimulus policies currently being conducted. This is also understandable, given the income gap between OECD and emerging countries. If long-term growth in OECD countries fell from 1.3% per year (which is their current potential growth rate) to -1% per year and growth in emerging countries remained the same, growth in global CO 2 emissions would fall by 0.8 percentage point per year, whereas it would have to fall by around 5 to 6 percentage points per year. We see that the main issue is not growth in OECD countries, but the legitimate desire for higher living standards in emerging countries.