Amsterdam’s ‘doughnut economy’ puts climate ahead of GDP
Climate Change, Energy & Pollution Finance VideoSummary
Amsterdam is trying to put the climate first through Donut Economics. Doughnut Economics has recently emerged as a new concept in economic theory, first coined by economist Kate Raworth, it disputes the long-standing idea that Gross Domestic Product (GDP) is the pinnacle of measuring a country’s stability and success. Instead of measuring success based on growth, Donut Economics has two ideals; an inner ring of concepts aimed at meeting the needs of all people and an outer ring aimed at meeting the needs of the environment, the sweet spot between the two rings is the doughnut itself. Using Donut Economics Amsterdam aims to be a zero-waste city by 2050 through the three Rs of reduce, reuse, and recycle. This will be amplified by the use of sustainable materials in construction and green energy uptake. Amsterdam may be pushing ahead with a doughnut model, but not everyone is convinced, other economists argue that the redistribution of wealth required in the model is not politically feasible and growth should remain a top priority. However, in theory, if we can overcome these barriers, this could be a very healthy doughnut for humanity indeed.