Energy and climate expert Brookings Nonresident Senior Fellow David G. Victor, writing together with economist Danny Cullenward, has co-authored a new book, “Making Climate Policy Work,” publishing through Polity Press.
The pair analyze the reasons why widely promoted market mechanisms for addressing climate change have largely failed in practical application, exploring why these approaches haven’t achieved the results analysts once predicted. The authors argue the problems are largely structural, and, despite beneficial characteristics such as transparency and flexibility, that much of the real ‘work’ is being done through regulatory and industrial policy instruments. Rooted in empirical cases, Victor and Cullenward offer a “simple model of politics” to help explain the interest groups and institutions through which they operate, concluding that sectoral politics matter significantly, and arguing for some non-intuitive reforms.
Learn more on Polity Press.