This podcast, which builds on the work of Global Strategist Sophie Krantz, reviews dynamic models that can help leaders envision ambitious futures. The podcast emphasizes that these models enable transformative actions and policies that drive global goals. The central question posed by the podcast is whether ambitious goals should be based on current capabilities or on emerging possibilities that might be necessary to achieve these objectives. This question is particularly relevant in the context of energy transition, where ambitions often surpass the forecasts of traditional economic models.
The podcast highlights the work of the Institute for New Economic Thinking and the Oxford Smith School of Enterprise and the Environment. These institutions advocate for dynamic models that provide a more accurate foresight into policy impacts. Dynamic models are presented as a significant improvement over traditional methods like cost-benefit analysis and equilibrium models, which are considered outdated. Traditional models are criticized for their inability to handle the complexities of modern challenges and their failure to fully capture technological advancements and global economic forces. In contrast, dynamic models offer a more nuanced understanding of how ambitious policies can shape the future.
The podcast provides examples of ambitious initiatives such as China’s Emissions Trading Scheme (ETS), the UK’s offshore wind auctions, and the US Inflation Reduction Act. These initiatives aim to redefine their respective sectors but rely on navigating uncharted territories and leveraging emerging technologies. Dynamic models are presented as a tool to bridge the gap between ambitious goals and actionable strategies. The podcast also emphasizes that ambition is not limited to governments and large organizations. Individuals, small startups, and community groups worldwide are setting bold targets and pushing boundaries. This collective drive to innovate reflects the idea that ambition is about envisioning a better future and striving to achieve it.
Ultimately, the podcast encourages listeners to consider whether they set ambitious goals based on what they want to achieve or based on current possibilities within their organization, industry, or the wider world. It suggests that pursuing ambitious goals requires a bold reimagining of forecasting, planning, and action, particularly in the context of energy transition. The podcast concludes by emphasizing that embracing uncertainty, fostering innovation, and venturing into the unknown are essential for shaping a better collective future.
When you change the way you see the world, you change the way you can shape it.
*Season one of The Global Edge podcast with Sophie Krantz is AI generated. Season two, launching early in 2025, will be hosted by Sophie Krantz.
