Urban Resilience and Economic Equity in an Era of Global Climate Crisis

Abstract

As the impacts of climate change are accelerated, due to continued emissions generating activities of industrialised nations, there is an increasing need for revised policies and climate change mitigation programs. The latter is, however, out of reach to vulnerable economies which are financially unequipped to afford such programs. In view of this, most turn towards debt financing, which can pose a risk to their economies in the long term as critical urban assets are used as collaterals; leading to unsustainable debt levels, posing a risk to the liveability of cities. This hybrid thesis explores the thematic of economic inequity from the context of colonialism and outlines how former colonial empires have exploited former colonies; which are today mostly classified as vulnerable economies, for the benefit of industrialisation -which helped in strengthening the economic agendas of colonial empires while also contributing substantially to the climate change. With this backdrop, the thesis explores how today, in an era of post-colonialism where an economic disparity exists due to colonialism, the thematic of climate change can be addressed while both bridging the economic divide between developed and least developing economies and socially empowering communities. The hybrid thesis, featuring one journal publication, underlines the above thematic and proposes the use of a revised model surfing on the concept of Emissions Trading System (ETS) and Smart Contracts through the Blockchain, while supporting the cultural attributes of vulnerable economies -which can be unique economic dimensions.