Risks identified in this submission include geopolitical unrest stemming from the climate and biodiversity crises and the decreasing global supply of high-quality oil; an unbalanced banking sector in Ireland; and 'perception risk' arising from ungrounded assumptions about the nature of the economy.
Submissions focussing on Ireland
Feasta members' suggestions for Ireland's updated Climate Action Plan include capping carbon in partnership with low-income countries, withdrawing from harmful international treaties, introducing a Land Value Tax, Financial transactions Tax and Universal Basic Income, making finance growth-neutral, and adopting Community Wealth Building.
In response to a consultation call from the Irish Department of Agriculture, Food and the Marine on their Agri-Food 2030 strategy, Feasta has prepared this submission, which calls for an urgent diversification of Irish agriculture and a move away from its current export-led approach.
What is the best way to allocate revenue from carbon pricing so as to protect those suffering from fuel poverty and promote international climate justice - and how can we ensure that the carbon pricing is actually bringing emissions down?
We urge the Irish government to recognise the existential aspect of environmental risk, as well as the complex challenges posed by the global financial system's high dependency on oil. Ireland is particularly vulnerable to financial collapse and its community banking sector needs to be strengthened and taxation reforms carried out in order to help mitigate this.
Feasta Currency Group members believe that community (or public) banking could form a central component of a healthy future Irish economy. There is an urgent need to expand this sector in Ireland in order to help protect the Irish economy from debt-related financial risk, stimulate community development and help bring about the transition to a growth-neutral financial sector.