The states\u2013markets\u2013decarbonization nexus: reviewing an emerging political economy agenda - Grantham Research Institute on climate change and the environment<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lse.ac.uk\/granthaminstitute\/publication\/the-states-markets-decarbonization-nexus-reviewing-an-emerging-political-economy-agenda\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The states\u2013markets\u2013decarbonization nexus: reviewing an emerging political economy agenda - Grantham Research Institute on climate change and the environment\" \/>\n<meta property=\"og:description\" content=\"The problem of climate change further confounds the already complex relationship between states and markets in modern capitalism. The authors of this article argue that current political economy scholarship is making sense of this occasion by incorporating decarbonization into the \u201creturn of the state\u201d and \u201cfinancialization\u201d literatures and thus creating a \u201cstates\u2013markets\u2013decarbonization nexus.\u201d\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lse.ac.uk\/granthaminstitute\/publication\/the-states-markets-decarbonization-nexus-reviewing-an-emerging-political-economy-agenda\/\" \/>\n<meta property=\"og:site_name\" content=\"Grantham Research Institute on climate change and the environment\" \/>\n<meta property=\"article:modified_time\" content=\"2026-06-05T06:51:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/academic.oup.com\/UI\/app\/svg\/chevron-right-white.svg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.lse.ac.uk\\\/granthaminstitute\\\/publication\\\/the-states-markets-decarbonization-nexus-reviewing-an-emerging-political-economy-agenda\\\/\",\"url\":\"https:\\\/\\\/www.lse.ac.uk\\\/granthaminstitute\\\/publication\\\/the-states-markets-decarbonization-nexus-reviewing-an-emerging-political-economy-agenda\\\/\",\"name\":\"The states\u2013markets\u2013decarbonization nexus: reviewing an emerging political economy agenda - 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{"id":86597,"date":"2026-06-01T07:43:04","date_gmt":"2026-06-01T06:43:04","guid":{"rendered":"https:\/\/www.lse.ac.uk\/granthaminstitute\/?post_type=publication&p=86597"},"modified":"2026-06-05T07:51:36","modified_gmt":"2026-06-05T06:51:36","slug":"the-states-markets-decarbonization-nexus-reviewing-an-emerging-political-economy-agenda","status":"publish","type":"publication","link":"https:\/\/www.lse.ac.uk\/granthaminstitute\/publication\/the-states-markets-decarbonization-nexus-reviewing-an-emerging-political-economy-agenda\/","title":{"rendered":"The states\u2013markets\u2013decarbonization nexus: reviewing an emerging political economy agenda"},"content":{"rendered":"\n

The problem of climate change further confounds the already complex relationship between states and markets in modern capitalism. In this state of the art<\/em> article, we argue that current political economy scholarship is making sense of this occasion by incorporating decarbonization into the “return of the state” and “financialization” literatures and thus creating a “states–markets–decarbonization nexus.” We categorize this nexus into three core topic areas: international financial subordination, industrial policy, and comparative capitalisms. In each, we review key insights and provide an overview of the main scholarly contributions on how states and markets intersect with decarbonization. From there, we discuss how current scholarship can be more policy relevant, appreciate the coming realities of climate adaptation, and benefit from integrating the three core topics to capture a rapidly evolving global order.<\/p>\n\n\n\n

Daniel Driscoll, Mathias Larsen, The states–markets–decarbonization nexus: reviewing an emerging political economy agenda, Socio-Economic Review<\/em>, 2026;, mwag026, https:\/\/doi.org\/10.1093\/ser\/mwag026 $\"Arrow\"$ <\/figure>\n\n","protected":false},"excerpt":{"rendered":"\n