As the world economy rapidly decarbonises to meet global climate goals, the export credit sector must keep pace. Countries representing over two-thirds of global GDP have now set net zero targets, as have hundreds of private financial institutions. Public and private initiatives are now working to develop new standards and methodologies for shifting investment portfolios to decarbonisation pathways based on science. However, export credit agencies (ECAs) are only at the beginning stages of this seismic transformation. On the one hand, the net zero transition creates risks to existing business models and clients for the many ECAs, while on the other, it creates a significant opportunity for ECAs to refocus their support to help countries and trade partners meet their climate targets. ECAs can best take advantage of this transition, and minimise its risks, by setting net zero targets and adopting credible plans to decarbonise their portfolios. Collaboration across the sector can be a powerful tool for advancing this goal.

More than half a decade after the outbreak of the greatest economic crisis since the Great Depression, the world economy is still facing serious difficulties. Much more than during a 'normal' recession, the Great Recession of recent years has uncovered serious structural problems in the world economy and has brought about levels of unemployment unprecedented in modern times (Elsby et al. 2010). It first became clear that the financial sector had become in effect self-referential and too much removed from its traditional role of allocating finance throughout the whole economy (Menkhoff and Meyer, 2010). Following this, the structural weaknesses of the Euro were exposed leading to serious questions about the long-term sustainability of the most ambitious currency union ever attempted. Policy Implications• The on-going economic crisis has shown that the constitution of different political economies and government involvement are key to creating resilient and sustainable economies.• In particular, the important SME sector is dependent on a supportive economic framework.• Economic policy-making needs to be embedded in a broader analytical framework.• The 'strategic econsystem' approach offers such a framework that allows us to capture and examine all policy-relevant aspects.

No abstract

CO 2 emissions are set to hit record levels in 2023, and there is no sign of peaking. The energy sector, in particular, is a key source of greenhouse gas emissions (GHG) and central to efforts to combat climate change. The sector contributed to approximately three-quarters of GHG in 2021 as most energy generation globally comes from fossil fuels. Despite increased climate ambitions and net-zero commitments, many governments still intend to raise oil and gas production, also a result of the economic consequences of the war in Ukraine. Only a moderate decrease in coal production is predicted over the next decade, although 195 countries committed to the Paris Agreement in 2015 (IEA, 2021;Kong & Gallagher, 2021;Olivier & Peters, 2020). The agreement responds to the threat of climate change by holding the increase in global average temperature to 'well below' 2°C in this century, as well as to pursue efforts to limit the rise to 1.5°C.Consequently, the global pathway to net-zero emissions by 2050 requires governments to implement and strengthen climate policies. This requirement led to a broad range of policy approaches, strategic directions, and concrete government actions in recent years. In November 2021, the 26th UN Climate Change Conference of the Parties in Glasgow (COP26) accelerated action towards the goals of the Paris Agreement. This included pathways to scale up renewable energy use in emerging markets and developing economies (EMDEs) as one of the most relevant mitigation measures to achieve the committed goals. On a national

No abstract