The Century of Change: How to manage and profit from the low-carbon transition

LSE masterclass in social science

The third Masterclass for 2017, The Century of Change – How to manage and profit from the low-carbon transition, will take place in Madrid from Monday 16 – Wednesday 18 October at the Fundación Ramón Areces.

This Masterclass will outline the key challenges underpinning the likely energy, transport and production revolution which will touch everything from policies, behaviours, institutions and urban settlement patterns.


Monday 16 October 2017
The climate imperative and the challenges of change
Professor Cameron Hepburn, Economics of Sustainability Programme, Oxford Martin School 

Further details

The first day will focus on the climate imperative and look at the urgency and magnitude of the challenge. The session will introduce the notion of carbon budgets and highlight issues associated with potential asset stranding and the need to induce technological innovation, as well as outline some of the technological options already available. 

It will assess the need for a broader assessment of wealth which better encompasses sustainability in the form not just of physical, human and financial capital, but also intellectual, social and natural capital.

Tuesday 17 October 2017

Managing the transition through steering innovation: where to from Paris?
Mr Dimitri Zenghelis, Grantham Research Institute on Climate Change and the Environment, LSE

Further details

The second day will expand on some of the tools available to policymakers to manage this transition, exploit co-benefits of action, while avoiding locking in to the wrong infrastructure, institutions and behaviour. 

It will focus on the need to align expectations to channel broad innovation into sustainable practices, utilising scale economies and positive feedbacks from technologies, to policies, institutions and behaviours. This can be thought of in terms of natural complementarities between the forms of capital outlined in the first day. 

It will also note the challenges associated with changing comparative advantages, shifting competitiveness and barriers within the political economy.  It will look at cities and urban innovation by way of example and use this to form insights into the shift from burden-sharing to opportunity, which paved the road to the successful Paris Climate Change Accord (COP 21). 

Wednesday 18 October 2017
Pricing emissions: putting a price tag on carbon
Dr Luca Taschini, Grantham Research Institute on Climate Change and the Environment, LSE

Certificate ceremony and programme close 

Closing Reception

Further details

The final day will examine international emissions trading, beginning with a look at market failures, environment externalities and market based instruments. This will be followed by a more comparative approach assessing the European Emissions Trading System and carbon pricing around the globe.

Applications are now open. To apply, please visit the Fundación Ramón Areces website. Successful candidates will be offered a place on merit by a selection committee consisting of representatives of LSE and the Fundación Ramón Areces.