Faculty of Economics and Business

Last year, at the 27th Conference of the Parties (COP27), developed countries acknowledged their responsibility in causing most of today’s climate change and formally agreed to financially aid developing countries for their climate change-related losses (of ecosystems, heritage and culture) and excess damages (from the excess losses from extreme weather events). This is widely referred to as the UN ‘loss and damage’ fund. Bert Kramer, lecturer at FEB and head of climate research at Ortec Finance, together with co-authors from Ortec Finance, Cadlas, the International Centre for Climate Change and Development, and QuTec Srl, published an opinion piece in 'Nature' on a mechanism to make this climate loss and damage funding work.

Extinction Rebellion has achieved what academics could not, says Bert Scholtens, Professor of Sustainable Banking and Finance. The environmental movement has put the massive and pervasive subsidies for fossil fuels on the political agenda. The rebels have a cause and are making it clear that fossil fuels are a curse, not a blessing. It is time to phase out fossil fuel subsidies for a healthier and more sustainable planet.

Professor of Energy Economics Machiel Mulder was appointed as a member of the Scientific Climate Council by the Dutch Ministry of Economic Affairs and Climate Policy this April. As experts in relevant fields, Mulder and his fellow council members will advise the government on climate policy. We talked to Mulder about his research on the economics of the energy transition, in particular the economic value of hydrogen, hydrogen’s potential role in the energy transition and the importance of accelerating this transition.