Climate change is increasingly seen as not only an environmental issue, but a deeply economic one. ‘Climate change presents a unique challenge for economics: it is the greatest and widest ranging market failure ever seen’ (Stern Review 2006). Markets are failing to put a price on the emissions of greenhouse gases, passing the costs on to society as a whole.
Reference:
Winkler, H; Marquard, A; Tyler, E; Visser, M & Brick, K (2009) Economics of climate change: context and concepts related to mitigation. Cape Town, Energy Research Centre.
Winkler, H., Marquard, A., Tyler, E., Visser, M., & Brick, K. (2009). Economics of climate change: context and concepts related to mitigation. http://www.erc.uct.ac.za/Research/publications/09Winkler-etal-%20Economics_Climate_change.pdf, http://hdl.handle.net/11427/16877
Winkler, Harald, Andrew Marquard, Emily Tyler, Martine Visser, and Kerri Brick "Economics of climate change: context and concepts related to mitigation." http://www.erc.uct.ac.za/Research/publications/09Winkler-etal-%20Economics_Climate_change.pdf (2009) http://hdl.handle.net/11427/16877
Winkler H, Marquard A, Tyler E, Visser M, Brick K. Economics of climate change: context and concepts related to mitigation. http://www.erc.uct.ac.za/Research/publications/09Winkler-etal-%20Economics_Climate_change.pdf. 2009; http://hdl.handle.net/11427/16877.
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