Une gouvernance mondiale pour gérer le climat en tant que bien public

Mark Carney

Revue d'économie financière, 2023, vol. N° 151, issue 3, 203-224

Abstract: The stability of our climate is a global public good whose benefits far outweigh its cost of provision. The nature of free riding means that a stable climate is threatened by three tragedies: of the commons, of the horizon, and of the shift from moral to market sentiments. Preserving a stable climate requires coordination among nation states with different interests, financial resources, and state capacities. Through the United Nations climate change process, this coordination is beginning to happen. By creating a consensus at the global and national levels on the need to preserve our climate, the dynamism of the private sector is now being unleashed. When society sets a clear goal, it becomes profitable to be part of the solution, and costly to remain part of the problem. Reforms to the plumbing of the financial sector will amplify and accelerate public climate action. Transition planning by all actors is essential. JEL classification: F55, H87, O19, Q05.

JEL-codes: F55 H87 O19 (search for similar items in EconPapers)
Date: 2023
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