Lowering these risks and adapting to those we can no longer avoid will require a mobilisation of resources on the scale of a war economy.

decarbonization also creates opportunities, and investors are keen to put capital to work on these areas. Many of them directly involve, or are adjacent to, chemicals production, including battery materials, green hydrogen, and materials that can enable energy efficiency.

If we are tosucceed at moving beyond the current model of ‘growth at allcosts’ to embrace the idea of a ‘wellbeing economy’, we need a dif-ferent approach to data collection and modelling that is adaptable,evolutionary, and integrated (Fioramonti, 2017a)

One solution is common investmentand common use. Common asset trusts (CATs) are one institutionthat can assign property rights to the commons on behalf of thecommunity, using trustees as protectors of the asset (Barneset al., 2008; Farley et al., 2015).

Systems of payment for ecosystem services (PES) and commonasset trusts can be effective elements in these institutions (Sattlerand Matzdorf, 2013).