The energy transition is likely to destroy capital and increase investment: What consequences?
The pace of the energy transition is going to have to increase sharply in order to meet the climate goals. This acceleration will lead to: Significant destruction of capital (ICE cars, fossil fuels, etc.); A sharp increase in investment (in renewable energies, etc.). If this acceleration in the energy transition does take place, one should expect to see: A fall in per capita living standards due to the destruction of capital; An increase in per capita income growth (from a lower level) due to the increase in investment.