Letters | Degrowth works against climate improvement if it becomes the norm

The commercial aspect is missing

It is highly questionable whether degrowth is the best approach to tackling the climate problem, as Felix van Hoften believes. Years of research show that innovation arises from two factors: inventions and their commercialization. For example, successive space programs have greatly stimulated inventions, which have been converted into commercial products so that the inventions have found global applications. Now we need to make ZERO inventions to make the transition to ZERO emissions (although they are welcome). We know what needs to be done and the techniques are available. However, the commercial aspect is still lacking, so we still have far too few applications. And yes, we still need growth to motivate people and companies to make the necessary investments. Degrowth works against climate improvement if it is the norm.

Jan Bouwens, Professor of Accounting at the UvA.

Where are the ecological economics courses? They already exist!

Themes such as sustainability, inequality, and the limits of our planet deserve a central place in our economic education and research. It is incorrect to claim, as Felix van Hoften does, that this is not the case: contrary to what Van Hoften suggests, we at the Faculty of Economics and Business (FEB) have been committed to these themes for years. It may be less visible from the outside, but within both schools of the FEB, sustainability is one of the core pillars. For example, I myself teach courses such as sustainable finance, ethics in finance, and impact investing. In addition, there is a full minor in Sustainability and Economics, with courses such as environmental economics, economics of climate change, post-growth entrepreneurship, and natural resource economics.

In our master’s programs, students also have the opportunity to specialize in sustainability, for example in the Environmental Economics track within the master’s program in Economics and the Sustainability track within the master’s program in Business Economics. Within the Business Administration program, we also offer an honours program on sustainability in finance and a specialization in responsible entrepreneurship.

And it doesn’t stop at bachelor’s and master’s education. Our executive program has recently trained more than 1,400 bankers in sustainable investing. The accounting program offers courses such as sustainability reporting and sustainability accounting and accountability. In addition, there are active research centres such as the Amsterdam Accounting Impact Center, Marketing Insights for Societal Transitions, and the Research Center for Sustainable Investments and Insurance.

This broad commitment has not gone unnoticed: accreditation agency EQUIS now considers the Amsterdam Business School to be an exemplary institution in the field of ethics, responsibility and sustainability. In short, ecology and sustainability are not absent from the economics and business programs at the UvA. They are interwoven into our education, research, and social engagement. The ecological economy certainly deserves further strengthening. Fortunately, a strong foundation is already in place.

Paul Smeets, professor of philanthropy and sustainable finance at the Amsterdam Business School of the UvA.