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Why the Most Effective Climate Policy Might Not Mention Climate at All

If you want to get someone to eat healthier, you might not start with a lecture about cholesterol levels or long-term cardiovascular risk. You might instead talk about the taste of fresh produce, the convenience of a local market, or the money they’ll save cooking at home. Climate policy can work the same way.

In fact, some of the most impactful climate solutions might never use the word “climate” at all.

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The Era of Cheap Debt is Over—Now What?

For more than a decade, the global economy ran on money so cheap it felt almost free. From the aftermath of the 2008 financial crisis through the pandemic years, near-zero interest rates and central bank asset purchases fueled an unprecedented era of borrowing. Governments financed stimulus packages without immediate pain, corporations refinanced at bargain rates, and households locked in historically low mortgages.

That era is over. And the transition will be neither smooth nor evenly felt.

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