Robert Stavins Presents at Future Energy Forum

Strategies for overcoming the global commons dilemma posed by climate change were the focus of Professor Robert Stavins' presentation June 18, 2015 at the third annual Future Energy Forum in Seoul, Korea. The Forum focused on the sustainability of resource development in a low oil price era and ways to build new business models for new and renewable energy. The event was hosted by ChosunBiz, Korea Energy Economics Institute (KEEI) and the Korea Institute of Energy Research (KIER). In his talk, Professor Stavins explained how the global commons dilemma provides a disincentive for action on climate change by individual countries since the climate benefits they gain individually would be less than the cost of action, while on a global basis the benefits could be much greater. Stavins argued that carbon taxes or cap-and-trade systems are the most effective solutions to reduce emissions.

Background of the Workshop

Advanced technology has broadened the range of energy resources—including shale oil—and has also expanded developable energy markets to include solar energy and wind power. Also, as the government and private sector continue to show high interest in the alternative energy market, high demand is expected for Energy Storage System (ESS). Considering the trend and circumstances of the energy industry, Future Energy Forum 2015 was designed to diagnose the current state of the industry and forecast the future.