Original Description:

  • Market-driven regulation: Are carbon pricing and disclosure of climate-related financial risk the solution?
  • As you answer this question, you should:
    • Contextualize this approach within the broader policy-making process.
    • Identify the interests that are for and against this approach, and why they support or oppose it.
    • Identify and explain the central idea(s) this approach advances as important to understanding the policy process and the energy transition.
    • Identify the institutions best serve this combination of interests and ideas.
    • Provide real-world examples illustrating how these interests, ideas and institutions play out in policy and political debates. 

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Market-driven regulation: Are carbon pricing and disclosure of climaterelated financial risk the solution? ENV 350 OCTOBER 25, 2021 Three ways to think about carbon pricing 1. As part of a set of ideas about how to organize society based around markets: neo-liberalism. 2. An institution that corrects for market failure. 3. As a political conflict over interests. Neo-liberalism Neo (new) liberalism: the rediscovery of classical liberal ideas about “free” markets and the ‘invisible hand” ◦ 1776: Adam Smith’s Wealth of Nations – freedom from rentiers (landlords / monopolists) ◦ 1980s: Milton Friedman – freedom from government (lower taxes / less regulations) ◦ Reality: less regulation of corporations / wealthy, more regulation/disciplining of poor (austerity) Neoliberalism in practice: Pinochet (Chile) -> Thatcher (UK) -> Reagan (US) ->

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