The move to green tech has unprecedented effects on global economy mainly in two factors:

• inflation
• aggregate demand.

The world in moving towards more EV on the roads are squeezing the supplies on many key ingredients (including but not limited to copper, aluminum, lithium and many rare earth minerals needed for the battery) necessary for the making while the developed countries are running out of young people for manufacturing the parts.

Major car brands need to write off millions in combustion engine related investments and supplies like lubes (and its manufacturing) have to be winded down to zero which impacts both employment and the balance sheets.

When supplies to green tech manufacturing are squeezed, inflation will get higher damping aggregate demand and you will see a lot of start stops in manufacturing that will affect the global economy.

History shows the adoption of any new technology, though eventually beneficial to all, has a lot of unknown and unpleasant side effects on the economy and its people.