By Frank Ackerman, Elizabeth A. Stanton
Formidable measures to lessen carbon emissions are all too infrequent in fact, impeded via monetary and political issues instead of technological advances. during this well timed number of essays, Frank Ackerman and Elizabeth A. Stanton express that the influence of inactivity on weather switch can be a long way worse than the price of formidable weather guidelines.
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Extra resources for Climate Change and Global Equity (Anthem Environment and Sustainability)
Where these commons lack governance, sustainability is at risk. Equity is a critical component of sustainability that can itself be viewed as a public good, subject to deterioration (maldistribution) when left ungoverned. As is the case for so many forms of environmental degradation, the private benefits of maldistribution tend to overshadow the larger social costs, and the result is a degradation of equity. This chapter sketches out the analogy of equity as a public good by: examining the evidence regarding current and historical income equality within and between countries; introducing the characteristics of public goods and grounding equity in this idiom; reviewing several theories explaining the suboptimal provision of environmental goods; applying these theoretical frameworks to the case of equity, with an examination of the potential causes of, and solutions to, maldistribution; and, finally, addressing equity’s critical role as a component of sustainability in the case of climate change, with implications for climate policy.
New technologies are necessary to solve the climate crisis and will not be created by high carbon prices alone. Where will the new technologies come from? Conventional economic models have often finessed this question with the ad hoc assumption of a predictable rate of technical change, unrelated to investment choices or policy decisions. That assumption creates a bias toward passively waiting for new technologies to emerge: abatement, so the argument goes, will always be cheaper if it is done later, after better technologies have made their appearance.
Nonetheless, the distribution of income is by far the best-measured component of equity, an indispensible first cut at the adequacy of resources. The main imperfections of this metric come in three broad categories: the nonmonetized, the indivisible and the ill-measured. •â•¢ Nonmonetized aspects of wellbeing: So much of what we value most in life defies monetization. Income captures neither our family’s health nor the health of our local environments (Ackerman and Heinzerling 2004; Sen 2000). •â•¢ Indivisible household resources: The measurement of distribution is greatly complicated by fundamental ambiguity regarding the basic unit of analysis: household income is not readily divisible into individual income.