States v Markets: Who is Best Placed to Tackle Climate Change?
The 2006 Stern Review called climate change ‘the greatest and widest-ranging market failure ever seen’. Now, as governments move towards a potential international deal on global warming in Paris at the end of this year, the role of the free market in combating climate change, versus that of the state, remains fiercely debated.
What is the right balance between top-down and bottom-up action? How do the ongoing international negotiations relate to investment on the ground? How should different policy instruments be used: be they tax incentives, cap and trade, subsidy regimes, direct investment, or indeed, state initiated projects? Our panel will consider the balance between the roles of the public and private sectors and discuss the risks of government intervention creating possible unintended negative consequences.