Governments around the world are committing to ‘build back better’ as they recover from the disruption caused by the pandemic, often committing huge levels of resource to this task. But what does building back better actually mean, and what are the conditions for success? Expectations are high – a low carbon economy, adaptation to changes in climate, even a redefinition of our relationship with the ecosystems of the planet.

This lecture will draw on examples from history and from experiences around the world to help illustrate the challenges in delivering on these expectations. The speaker will suggest that the biggest challenge may well not lie in the deployment of new technology, or in finding the resources to finance the recovery. Rather it will be in ensuring that institutions, at all levels, are fit for purpose to guide society through what may well be the biggest economic transition in modern history.

This is the second lecture in the Green Templeton Lectures 2021.