By Elmar Altvater, Achim Brunnengräber
The global is dealing with numerous critical demanding situations on the shut of the fossil and nuclear power regime: the constrained assets of inexpensive traditional oil can basically be surmounted via tapping unconventional oil reserves, e.g. deep sea oil. The explosion of the oil platform Deepwater Horizon in 2010 and the next oil spill prompted huge, immense harm, which even a yr later can't be totally envisioned. one other much more very important danger emanating from the fossil and nuclear power regime has been dropped at our realization via the Fukushima catastrophe. final yet now not least, the matter of weather swap attributable to a rise in greenhouse gasoline emissions is looming, although the overseas neighborhood has agreed on a substantial aid of those emissions. is that this negative results of the Kyoto Protocol and the failure of successive weather meetings the end result of a choice for using market-based tools? the vast majority of weather scientists, economists, and politicians think within the potency of “cap-and-trade” rules. They even conceive them as a constituent component of a “Green New Deal” or “Global eco-friendly Recovery”. The contributions during this quantity supply a serious exam of the theoretical foundations, the political implications, and the empirical reports of the applying of marketplace mechanisms and monetary tools to weather coverage.
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Additional resources for After Cancún: Climate Governance or Climate Conflicts
Since projected growth rates of the economy swamp a1l mitigation and adaptation costs typica1ly found in the literature" (Schneider 2008: 3). ,economic arguments can be made without resorting to dodgy modelling or peculiar assumptions. Taxing greenhouse gas emissions now makes perfect economic sense" (Yobe aud To12008: 237). 50 Simon Wolf temperatures improve the economic conditions fOT some sectors; adaptation policies can have the effecl of an economic stimulus; and the growing demand for climate proof technologies opens up export markets for some countries.
Hat was widely taken up in the public and heatedly discussed in expert cireles, and the particuiar approach to climate politics the report establishes. Stern and bis team compare the global macroeconomic costs of climate change, with and without mitigation policies, outlined for time horizons of 50, 100 and 200 years (Stern 2006). hat the economic consequences of uncontrolled climate change far outweigb the costs of limiting climate change to an acceptable degree: mitigating ciimate change, therefore, is perfectly rational from an economic point ofview.
Bis logic, climate change exists fundamentally as a problem of open access resources (the classically misnamed commons problems of Garrett Hardiu). Because no-one ,owns' the resouree, no-one has an incentive to use it wisely. The response is thus to 3 For example, Smith (2006: 32-33) describes the way in which •The US rejection of the Kyato Protocol represents an internal ruling class jostle between more environmenta11y ,friendly' energy capitalists ... and morc aggressive cowboy capitalists who, while quite happy to invest in the cnviromnental marlret, see their immediate profits in terms of direct energy productioo for an expanding market'.