Can the market do the right thing?
Not without supportive policy. Market-based solutions do not have a good track record when it comes to climate, stuck as they are within an exploitative economic framework. But, equally, we cannot just do away with markets, which have existed for millennia in many different forms. They need revolutionised, not abandoned.
Civil engineer and geo-hydrologist Delton Chen joins me to discuss the Global Carbon Reward, a policy for managing climate-related risk. Described as a “carrot policy”, Delton says the GCR incentivises polluting industries to reduce their emissions whilst encouraging the private market to invest in research and development of mitigation technologies. This conversation is filled with nuance, technicality, analysis and discussion on the viability of market-based solutions in a market that drives perverse incentives.
You can also listen to my latest episode of the Mongabay Newscast where I spoke with Dahr Jamail about the resource wars driving climate-fuelled conflict.
Global Carbon Reward | Delton Chen