A stock-flow-service nexus vision of the low carbon economy

There is political interest in the development of a low carbon economy. There are three supply-focused energy strategies that have been proposed (clean electricity, a switch from fossil fuels to bioequivalents, and carbon capture and storage) as a means to achieve Paris Agreement carbon targets. This paper uses the stock-flow-service nexus framework to highlight the role of materials and energy in the provision of the services offered within an economic system. We make the case that a low carbon economy cannot be achieved via energy policies alone, as emissions are a product of the interaction among energy and material flows, material stocks and the services they offer an end user. A literature review led to the identification of four complementary strategies. These are material circularity, product material efficiency, service sufficiency, and process resource efficiency. They encompass material efficiency and demand-side aspects of the resource use equation. The stock-flow-service nexus is then used to quantifiably assess the performance of all seven strategies with regard to carbon savings. (C) 2022 The Authors. Published by Elsevier Ltd.