Environment & Climate Change

Over the past decade, carbon trading has emerged as the industrialized world's primary policy response to global climate change despite considerable controversy. With carbon markets worth $144 billion in 2009, carbon trading represents the largest manifestation of the trend toward market-based environmental governance. In Carbon Coalitions, Jonas Meckling presents the first comprehensive study on the rise of carbon trading and the role business played in making this policy instrument a central pillar of global climate governance.

"The United States ought to be the leader of the world in the energy technology innovation that is needed. It has the largest economy, uses the most energy (and within that total the most oil), has made the largest cumulative contribution to the atmospheric buildup of fossil carbon dioxide that is the dominant driver of global climate change, has a large balance of payments stake in competitiveness in the global energy technology market as well as a large stake in the worldwide economic and security benefits of meeting global energy needs in affordable and sustainable ways, and possesses by many measures the most capable scientific and engineering workforce in the world. The actual performance of this country in energy-technology innovation, however, has been falling short by almost every measure...."