Global climate cooperation has collapsed but the need for action has not disappeared. This column argues that only radical technological progress can reconcile climate-change goals with development. It argues that four changes in WTO trade rules could facilitate climate-change action and technological advances without unduly damaging trade.
Energy-subsidy reform is notoriously difficult. This column argues that the environmental and social payoff from a concerted worldwide effort to replace these subsidies with better targeted measures would be substantial. Subsidy reform is an especially attractive option for countries under pressure to bring public debt to more prudent levels. The success of reform in several countries shows that the challenge is not insurmountable.
Implementing comprehensive policies to reduce greenhouse-gas emissions has proved to be difficult. Such sluggishness has increasingly led analysts and researchers to consider geoengineering – the deliberate reduction of the incoming solar radiation – as a viable alternative. Geoengineering used to be seen as somewhat of a ‘last resort’ in terms of climate policy because its implementation would reduce the urgency for current abatement efforts. However, under uncertainty, research suggests that substantial abatement in the short and medium term remains optimal due to the long lead-in time needed for geoengineering projects.
Against a backdrop of road accidents, pollution and congestion, many governments subsidise railways with the aim of reducing such externalities. But do improvements in public transport work? This column argues that recent empirical evidence confirms our expectations and, moreover, that public-transport improvements offer good value for money.
The sordid history of Congressional acceptance and rejection of cap-and-trade: Implications for climate policy
Not so long ago, cap-and-trade mechanisms for environmental protection were popular in Congress. Now, such mechanisms are denigrated. What happened? This column tells the sordid tale of how conservatives in Congress who once supported cap and trade now lambast climate change legislation as ‘cap-and-tax’. Ironically, conservatives are choosing to demonise their own market-based creation. The successful conservative campaign that disparaged cap-and-trade means it may now be politically impossible to promote it in the US. The good news? Elsewhere, cap and trade is now a proven, viable option for tackling large-scale environmental problems.
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