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Making Climate Policy Work 1st Edition

4.3 4.3 out of 5 stars 29 ratings

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For decades, the world’s governments have struggled to move from talk to action on climate. Many now hope that growing public concern will lead to greater policy ambition, but the most widely promoted strategy to address the climate crisis – the use of market-based programs – hasn’t been working and isn’t ready to scale.

Danny Cullenward and David Victor show how the politics of creating and maintaining market-based policies render them ineffective nearly everywhere they have been applied. Reforms can help around the margins, but markets’ problems are structural and won’t disappear with increasing demand for climate solutions. Facing that reality requires relying more heavily on smart regulation and industrial policy – government-led strategies – to catalyze the transformation that markets promise, but rarely deliver.

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Editorial Reviews

Review

“Cullenward and Victor provide a refreshingly honest and pragmatic perspective on this complex field. This book is essential reading for anyone interested in climate policy and carbon pricing.”
David Wright, University of Calgary

“This is a must-read for policymakers, especially the climate intelligentsia who believe that market-based policies are a panacea for the existential threat of climate change. Cullenward and Victor shatter that myth and chart a better course based on proven models that achieve tangible results.”
Kevin de León, California Senate President Emeritus

“I have spent my career trying to answer the question posed by Cullenward and Victor – how to make climate policy work. This book provides a compelling answer: the deep decarbonization the world needs will only be achieved when governments commit to a vision of transformation that all actors can work towards.”
Laurence Tubiana, CEO of the European Climate Foundation, Founder of IDDRI

About the Author

Danny Cullenward is Policy Director at CarbonPlan and a lecturer at Stanford Law School.
David G. Victor is Professor of International Relations at the School of Global Policy and Strategy at UC San Diego. He co-heads the initiative on energy and climate at the Brookings Institution.

Product details

  • Publisher ‏ : ‎ Polity; 1st edition (December 29, 2020)
  • Language ‏ : ‎ English
  • Hardcover ‏ : ‎ 256 pages
  • ISBN-10 ‏ : ‎ 1509541799
  • ISBN-13 ‏ : ‎ 978-1509541799
  • Item Weight ‏ : ‎ 15.7 ounces
  • Dimensions ‏ : ‎ 5.6 x 1 x 8.6 inches
  • Customer Reviews:
    4.3 4.3 out of 5 stars 29 ratings

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David G. Victor
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Customer reviews

4.3 out of 5 stars
29 global ratings

Top reviews from the United States

There are 0 reviews and 21 ratings from the United States

Top reviews from other countries

Federico
5.0 out of 5 stars Climate change, market instruments and a new policy framework
Reviewed in Italy on June 3, 2021
As we are entering a new (hopefully productive) climate tech bubble, this is a fundamental read for all people involved in climate policy, green finance and cleantech. In a nutshell, the authors provide a short and robust framework to understand how typical market solutions in the field of environmental economics and policy (namely carbon taxes, cap-and-trade programs and offsetting) actually work. Basically, they argue that these instruments are built on top of non-market instruments such as government regulation, which account for a large share of emission reductions. However, the book is not an attack on orthodox environmental economics and its main instruments. On the opposite, the authors provide many recommendations on how to make them more reliable, transparent and ambitious.
James D Malone
1.0 out of 5 stars Any fool can criticize, condemn and complain – and most fools do
Reviewed in the United Kingdom on March 24, 2021
The book dedicates 6 of the 8 main chapters to draw out the historical failures of carbon pricing mechanisms (of which there are admittedly many) and makes the case that carbon markets should be scaled down and abandoned. However it fails to propose a compelling alternative (in contrast to the title of the book) on how to make climate policy work! The authors dedicated just a single chapter to articulate an alternative solution which they coin "experimentalist governance" . Under this model, instead of companies paying for their emissions and creating a source of revenue to fund the low carbon transition, governments should focus on playing a much bigger role in creating and supporting industrial policies to accelerate the creation of low-carbon solutions. The benefits of this approach is that it takes less political capital to implement. Unsurprisingly however, individual taxpayers end up footing the bill under this model through loan guarantees and direct government support. In short, taxpayers end up bearing the risk and costs in supporting these new innovations and the rewards for any successes are captured mainly by private businesses. Furthermore, there are a number of problematic assumptions underpinning the books arguments mainly ; (1) only Europeans will ever be capable of supporting efforts that price carbon at sufficiently high levels to incentivize meaningful decarbonisation (no supporting evidence is provided for this view ) (2) that voters will somehow be more supportive of government intervention to help pick winners and losers than market based solutions (no evidence is provided). (3) that policy makers cannot learn from past experiences with carbon market and pricing.
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