We also need global and aligned action to limit our carbon emissions and to minimize the effects of climate change. As carbon prices increase over time, coordination between countries becomes increasingly important to ensure a level playing field for carbon-intensive sectors. I hope today’s discussion can provide further insights on the role that academics and central banks can play in this respect.
Sustainable economic growth Vibrant growth, sustained over lengthy periods of time, opens up exciting possibilities. Some of the most dynamic examples in this respect are Korea, where real gross domestic product per capita is now four times its level in 1980, and Botswana, where the same comparison yields an increase to 3.3 times what it was 25 years ago.