The goods and services that are produced by modern market economies are largely powered or enabled by the use of fossil fuels, whose combustion results in the emission of greenhouse gases and other pollutants. Yet when making private production and consumption decisions, firms and people do not take this externality into account. For purposes of efficiency, societies should control pollutant emissions up to the point where the incremental (marginal) benefit of pollution control equals the incremental (marginal) cost of such activity. This conceptual insight is at the heart of analytical tools such as net present value (benefit-cost) analysis, as well as cost-effective policy instruments such as carbon pricing.
Where carbon pricing is concerned, how can governments incorporate carbon price signals through public policies? Why are technology R&D initiatives important even if there is carbon pricing?
Professor Robert Stavins, Albert Pratt Professor of Business and Government at the Harvard Kennedy School, and Director of the Harvard Environmental Economics Program, will explain that a broader understanding of how economics can, and should, be applied to thinking about climate change can assist governments and public officers to formulate better climate policies at the national level.
Click here for more info.
Professor Robert Stavins, Albert Pratt Professor of Business and Government at Harvard University and Director of the Harvard Environmental Economic Programme
- Monday, 09 May 2011
- 4.00 p.m. - 6.00 p.m.
CSC Auditorium, Level 1, Civil Service College
31 North Buona Vista Road