The three main types of policies for addressing climate change are command and control regulation, carbon taxes (or price instruments), and cap and trade (or quantity instruments). The first question in the ethics of carbon pricing is whether the latter two (price and quantity instruments) are preferable to command and control regulation. The second question is, if so, how should we evaluate the relative merits of price and quantity instruments. I canvass relevant arguments to explain different ways (...) of addressing these important policy questions, suggesting that carbon pricing is preferable to command and control regulation, and that price instruments have the theoretical edge over quantity instruments. [Open access]. (shrink)

A question arising from the COVID-19 crisis is whether the merits of cases for climate policies have been affected. This article focuses on carbon pricing, in the form of either carbon taxes or emissions trading. It discusses the extent to which relative costs and benefits of introducing carbon pricing may have changed in the context of COVID-19, during both the crisis and the recovery period to follow. In several ways, the case for introducing a (...) class='Hi'>carbon price is stronger during the COVID-19 crisis than under normal conditions. Oil costs are lower than normal, so we would expect less harm to consumers compared to normal conditions. Governments have immediate need for diversified new revenue streams in light of both decreased tax receipts and greater use of social safety nets. Finally, supply and demand shocks have led to already destabilized supply-side activities, and carbon pricing would allow this destabilization to equilibrate around greener production for the long-term. The strengthening of the case for introducing carbon pricing now is highly relevant to discussions about recovery measures, especially in the context of policy announcements from the European Union and United States House of Representatives. Key Policy Insights: • Persistently low oil prices mean that consumers will face lower pain from carbon pricing than under normal conditions. • Many consumers are more price-sensitive during the COVID-19 context, which suggests that a greater relative burden from carbon prices would fall upon producers as opposed to consumers than under normal conditions. • Carbon prices in the COVID-19 context can introduce new revenue streams, assisting with fiscal holes or with other green priorities. • Carbon pricing would contribute to a more sustainable COVID-19 recovery period, since many of the costs of revamping supply chains are already being felt while idled labor capacity can be incorporated into firms with lower carbon-intensity. (shrink)

While there are a variety of moral issues that relate to carbon pricing policies, I will focus on one that has received a large amount of attention: is carbon pricing unjust? Campaigners and civil society groups, especially those involved in environmental and climate justice spaces, have rejected carbon pricing as unjust. This claim deserves some discussion and, in this perspective, I discuss a few potential dimensions of justice that could be relevant to this claim. (...) My goal is to show that, for the most important dimensions of justice, distributive and procedural, carbon pricing is not unjust as a policy instrument for addressing climate change. [Open access]. (shrink)

John Broome and Duncan Foley have proposed an ingenious way to transfer benefits backwards in time, from people who are not here yet to people who will not be here in the future. Present people can crowd out conventional, and often brown, investments by issuing global climate bonds (GCBs). The debate about GCBs has focused on whether it is justified to use this financial instrument to allow future people to buy off present people for climate mitigation. In this article, I (...) ask whether it is fair to use GCBs to share the cost of a global carbon price between present and future people. My answer is that it depends on the approach used to calculate the carbon price and, of course, on the normative claims underlying the different approaches. Specifically, I argue that the internalisation principle underlying the cost-benefit approach does not justify intergenerational cost-shifting if, as in most cases, the social cost of carbon is determined using, inter alia, a social discount rate. Instead, the conservative justifications underlying a cost-effective carbon price consistent with the Paris mitigation target allow for intergenerational cost-shifting, but only to the extent of the difference (if any) between the Paris-consistent and the Pareto-efficient carbon price. (shrink)

This article contributes a systematically approached, up-to-date synthesis of the current literature on ethics and carbon pricing. This is the first study on this topic performed using PRISMA methodology. We identify 210 sources discussing the ethical arguments for and against a variety of carbon pricing instruments. By analysing the primary arguments within the debate, we offer insights for policymakers regarding the selection and design of emissions abatement policy instruments. The review indicates that carbon pricing (...) remains divisive in the debate about ethical policy choices to reduce greenhouse gas (GHG) emissions. However, for most price instruments, many ethical objections can be resolved with careful attention to the instrument design. Also, although careful policy design may not fully resolve all justice concerns raised, this is not necessarily a strong argument against carbon pricing as alternative mitigation instruments may leave some justice-relate concerns unresolved. The key exception is offsets, for which the literature does not offer a solid ethical defense. This result has two main implications. First, research on the ethics of carbon pricing speaks against relying on offsets to close the gap between the developing countries' needs and current climate finance flows. Instead, less controversial forms of carbon pricing — such as a carefully designed international carbon tax — may provide new and innovative sources of climate finance. Second, while many critiques of carbon pricing are focussed on the shortcomings of carbon pricing as a policy used in isolation from other tools, we call for further research on how to incorporate both pricing and non-pricing instruments into a more comprehensive climate policy. (shrink)

This teaching and learning guide accompanies the following article: Mintz-Woo, K., 2022. Carbon Pricing Ethics. Philosophy Compass 17(1):article e12803. doi:10.1111/phc3.12803. [Open access].

When imposing traffic congestion pricing around downtown commercial centers, there is a concern that commercial activities will have to consider relocating due to reduced demand, at a cost to merchants. Concerns like these were important in the debates before the introductions of congestion charges in both London and Stockholm and influenced the final policy design choices. This study introduces a sequential experimental game to study reactions to congestion pricing in the commercial sector. In the game, merchants first make (...) location choices. Consumers, who drive to do their shopping, subsequently choose where to shop. Initial responses to the introduction of congestion pricing and equilibrium selection adjustments over time are observed. These observations are compared to responses and adjustments in a condition where congestion pricing is reduced from an initially high level. Payoffs are non-linear and non-transparent, making it less than obvious that the efficient equilibrium will be selected, and introducing possibilities that participants need to discover their preferences and anchor on past experiences. We find that initial responses reflect standard inverse price–demand relations, and that adjustments over time rely on signaling by consumers leading to the efficient equilibrium. There is also evidence that priming from initial experiences influence play somewhat. We confirm that commercial activities relocate following the introduction of congestion pricing and that the adjustment process is costly to merchants. (shrink)

[Newspaper opinion] strengthening carbon pricing during COVID-19 is the best time to do so for both consumers and for governments.

Carbon pricing is one of the most politically important approaches for the mitigation of climate change in the world today. Most political actors who are not committed to climate change denial favor carbon pricing, either as emissions trading or carbon taxation. In this article, I argue that carbon pricing should be considered unfair in most of its forms. I present a line of criticism called the Unfair Burdens Argument. It states that the most (...) politically relevant ways to price carbon needlessly burden the less affluent more than the more affluent. This is unfair because, among other things, the more affluent have on average done more to create the problem of climate change in the first place. Principles for the fair distribution of burdens under climate change mitigation like the Polluter Pays Principle, which were thought to support carbon pricing, turn out to speak against it, when interpreted properly. Although the Unfair Burdens Argument on its own cannot show that carbon pricing is impermissible, it offers important clues for what a morally permissible form of climate change mitigation would look like. (shrink)

Integrated assessment models of climate and the economy provide estimates of the social cost of carbon and inform climate policy. We create a variant of the Regional Integrated model of Climate and the Economy (RICE)—a regionally disaggregated version of the Dynamic Integrated model of Climate and the Economy (DICE)—in which we introduce a more fine-grained representation of economic inequalities within the model’s regions. This allows us to model the common observation that climate change impacts are not evenly distributed within (...) regions and that poorer people are more vulnerable than the rest of the population. Our results suggest that this is important to the social cost of carbon—as significant, potentially, for the optimal carbon price as the debate between Stern and Nordhaus on discounting. (shrink)

It is often stated that optimal global climate policy requires global harmonization of marginal abatement costs – i.e., a single carbon price throughout the world. Chichilnisky and Heal (1994) have shown quite generally that this is only the case if distributional issues are ignored, or if lump-sum transfers are made between countries. Else, a policy in which different regions face different carbon prices may be superior to one with a single global carbon price from a welfare point (...) of view. Still, most integrated assessment models (IAMs) assume away distributional issues and report a single optimal carbon price. We calculate utilitarian-optimal carbon prices under zero cross-regional lump-sum transfers in the multi-region IAM NICE. The result is optimal global climate policy with different regional carbon prices in which the poorest regions face initially low prices, while the richest regions face very high prices from the outset. This entails significant welfare gains over the standard single price optima commonly reported, which, as we argue briefly in conclusion, can be improved upon still by allowing international trading in the corresponding emissions allocations. (shrink)

This paper focuses on one particular case that connects climate justice and climate economics. Its contribution is twofold. First, it aims at providing a sound normative foundation for carbon pricing mechanisms around the notions of a ‘right to energy’, the ‘duty not-to-harm’ and an argument for ‘restricted compensation’. Second, it identifies the normative elements from theories of climate justice that should guide the design of market-based instruments for climate change mitigation. This will cast light on the particular moral (...) relevance of the act of internalizing a negative externality and of the funds generated by putting a price on carbon. (shrink)

[Newspaper Opinion] Before the COVID-19 pandemic and the accompanying fall in oil prices, a carbon price would have been immediately painful for the countries that imposed it, but far better for everyone over the longer term. In this unprecedented moment, introducing a carbon price would be beneficial both now and for the future.

Volume 22, Issue 2, June 2019, Page 148-150.

Alexandre Gajevic Sayegh presents an intriguing interdisciplinary exploration of climate justice policy issues. He argues the important point that justice must be a key element of any climate regim...

Ideal carbon tax policy is internationally coordinated, fully internalizes externalities, redistributes revenues to those harmed, and is politically acceptable, generating predictable market signals. Since nonideal circumstances rarely allow all these conditions to be met, moral issues arise. This paper surveys some of the work in moral philosophy responding to several of these issues. First, it discusses the moral drivers for estimates of the social cost of carbon. Second, it explains how national self-interest can block climate action and suggests (...) international policies—carbon border tax adjustments and carbon clubs—that can help address these concerns. Third, it introduces some of the social science literature about the political acceptability of carbon taxes before addressing a couple common public concerns about carbon taxes. Finally, it introduces four carbon revenue usage options, arguing that redistributive and climate compensation measures are most morally justified. [Open access]. (shrink)

In his ‘Pricing Carbon for Climate Justice’, Alexandre Sayegh develops the connections between climate justice and climate economics. More specifically, the paper focuses on how ‘market-based instr...

Recycling carbon revenues as Equal Per Capita Carbon Dividends (ECDs) is thought to neutralise the two main objections to carbon pricing, namely that it is regressive and that it hinders the poor from meeting basic needs. This article focuses on the waste objection to carbon pricing plus ECDs. If the rationale for ECDs is to protect the consumption of the worst off, why pay carbon dividends to the rich as well? I examine three (...) different normative arguments in favour of ECDs. First, the argument of common ownership of the atmosphere, which can be based on both libertarianism and isolationist egalitarianism. Second, the argument that the rich are net contributors to ECDs through their carbon taxes. Third, a consequentialist argument focusing on the pragmatic advantages of ECDs, especially in terms of social acceptability and low information costs. I conclude that none of these arguments can provide a normative justification for ECDs. (shrink)

EU co-legislators recently approved the EU carbon border adjustment mechanism (CBAM), which establishes a uniform carbon price on both EU and imported products, in ETS covered sectors. This violates the CBDR-RC principle. Yet, CBAM advocates claim that the resulting unfair mitigation can be offset by scaling up climate finance, to the benefit of poorer countries. I argue that the CBAM’s unfairness is compounded by previous climate injustice, as avoidable emissions by developed countries pushed the climate crisis to the (...) point where fair mitigation is no longer viable. This implies that a disadvantage within the distributive sphere of emissions abatement cannot be counterbalanced by additional advantages within the distributive sphere of climate finance. (shrink)

To reduce CO2 emissions requires greater reliance on renewable sources of energy for generating electricity, especially adoption of large-scale wind generation. This study investigates possible approaches and/or policies that increase efficient use of renewable energy and reduce greenhouse gas emissions in a cost effective manner. We develop a constrained optimization model of two electricity systems to identify the impact of increasing wind generating capacity and examine how carbon prices (taxes, allowances) impact the penetration of wind power into the electricity (...) grids. Rather than employ engineering cost functions, marginal cost functions are estimated using hourly offer data from the Alberta Electric System Operator. We determine optimal removal of coal generating facilities as greater levels of wind capacity are installed in an integrated Alberta-BC electricity system; and examine the economic costs and institutional incentives that affect the ability to store intermittent wind-generated power in BC’s hydro reservoirs during low demand. The marginal shadow price of storage is zero, whichindicates that there is more than enough water behind the dams given Alberta’s relatively small demand for storage and limited intertie transmission capacity. (shrink)

Cap-and-trade systems for greenhouse gas emissions are an important part of the climate change policies of the EU, Japan, New Zealand, among others, as well as China and Australia. However, concerns have been raised on a variety of ethical grounds about the use of markets to reduce emissions. For example, some people worry that emissions trading allows the wealthy to evade their responsibilities. Others are concerned that it puts a price on the natural environment. Concerns have also been raised about (...) the distributional justice of emissions trading. Finally, some commentators have questioned the actual effectiveness of emissions trading in reducing emissions. This paper considers these three categories of objections – ethics, justice and effectiveness – through the lens of moral philosophy and economics. It is concluded that only the objections based on distributional justice can be sustained. This points to reform of the carbon market system, rather than its elimination. (shrink)

At first glance, it may seem that climate policy based on estimates of the social cost of carbon (SCC) presupposes a set of controversial assumptions, especially about what detailed knowledge regulators have about the impacts of climate change, and what the proper role of government and policy is in responding to those impacts. However, I explain why the SCC-based approach need not actually have these problematic presuppositions as well as why SCC estimates may provide the best guide to climate (...) policy when implemented in a way that incorporates a healthy dose of humility. The SCC-based approach can be used in a way that is ecumenical between the wide range of reasonable but incompatible views about the proper goals of government and policy, ranging from views that aim only at market-efficiency, to utilitarian views, to rights-based and other deontological views, to libertarian views, to virtue ethics views, and others. Beyond this, I suggest that the SCC-based approach can help us find an overlapping consensus on a particular climate policy given the range of reasonable but incompatible normative views endorsed in diverse societies. Finally, I consider a number of specific objections to the SCC-based approach that are especially prominent in contemporary discourse and policy debates. I suggest that even if we agree that all of these objections to existing SCC-based analyses have an important kernel of truth, nonetheless the correct response to climate change still involves substantial emissions reductions to be achieved via policy, and the best methods for deciding the magnitude of those reductions still depend essentially on the SCC-based approach. (shrink)

In this article I maintain that a progressive and leftist carbon tax should be revenue-neutral through a dual policy package: first, it should use some revenues to offset price increases for the poor and middle classes; second, it should use the remaining part of revenues to lower taxes on labour income (both employed and self-employed income) for those below a middle-income threshold. I will briefly examine three reasons why such a revenue-neutral and dual-package carbon tax (RN-DP-CT) could (and (...) should) become central in the political agenda of the European Left – even though much of what I will suggest can reasonably hold also with respect to other countries. First, the tax wage on labour in the euro area is one of the highest in the world. Second, the revenue-neutral and dual policy package carbon tax will tax more capital that yields income without a proportional increase in labour demand, rather than capital that creates new job opportunities. Third, we live in societies that are highly unequal, hence I see no moral reason why a carbon tax reform should not aim, among other things, to take wealth away from the richest. (shrink)

In developing the basis on which climate change should be priced, I do five things. First, I review the ethical foundations for valuing future consumption relative to present consumption (i.e. social discount rates). Second, I report that the criterion for both assessing and prescribing economic policies should not be an economy's GDP, but an inclusive measure of an economy's wealth adjusted for the distribution of wealth. Third, I apply the resulting analysis to the problem of pricing carbon concentration (...) in the atmosphere. I give prominence to future uncertainties. Fourth, I show that the existing models of human behaviour on the basis of which these questions have been analysed by economists have serious deficiencies, in as much as the idea of personhood embodied in them has been built on the psychology of confirmed egotists. Fifth, I sketch the motivations of a social being and show how the altered specification of the human person affects the social price of climate change. (shrink)

Sustainable development is an everlasting theme and lasting strategy in today’s era. Low-carbon economy is an inevitable approach to the implementation of sustainable development. Cold chain logistics has become one of the main sources of carbon emissions. However, in the research on location planning of cold chain logistics, the costs of carbon emissions have not been taken into consideration in previous studies. The two-stage stochastic optimization model was established based on the comprehensive consideration of transportation costs, time (...) penalty costs, and carbon emission costs. In this case, it is extremely difficult to deal with uncertainty in TSSO model. Therefore, this paper constructs a two-stage robust optimization model using data-driven method and robust optimization theory and verifies the validity of this model through an actual case. The application of this method to a cold chain logistics enterprise showed that the service level of logistics cannot be guaranteed by stochastic optimization model. In the TSRO model, the costs increase by 2.18% at the price of robustness, whereas logistics service level shows an upward trend. In the TSRO model, enterprises are forced to choose a better distribution path when carbon tax increases, which not only helps enterprises save costs but also achieves low-carbon environmental benefits. (shrink)

As a collective action problem, climate change is best tackled by coordination. Most moral philosophers therefore agree on our individual responsibility as political citizens to help establish such coordination. There is disagreement, however, on our individual responsibilities as consumers to reduce emissions before such coordination is established. In this article I argue that from a Kantian deontological perspective we have a perfect duty to refrain from activities that we would not perform if appropriate coordination were established. Moral autonomy means that (...) we do not need to wait for an external lawmaker to tell us what we ought to do. In practice, this means basing our decisions on a shadow price for carbon: if we would not go out for a drive on a sunny Sunday afternoon in a gas-guzzling sport utility vehicle if gas prices were twice as high, we should not do it now. Moreover, we have imperfect duties to reduce emissions by more than our perfect duties require. (shrink)

Energy innovation offers us our best chance to solve the three urgent and interrelated problems of climate change, worldwide insecurity over energy supplies, and rapidly growing energy demand. But if we are to achieve a timely transition to reliable, low-cost, low-carbon energy, the U.S. energy innovation system must be radically overhauled. Unlocking Energy Innovation outlines an up-to-the-minute plan for remaking America's energy innovation system by tapping the country's entrepreneurial strengths and regional diversity in both the public and private spheres. (...) The authors map three waves of energy innovation to show how we can speed up the introduction of new technologies and business models and accelerate their deployment on a massive scale. "Business as usual" will not fill the energy innovation gap. Nor will wishful thinking--common enough today, with politicians and others talking up some technologies, talking down others, and claiming that if we price it, or if we mandate it, or if we simply say it often and inspiringly enough, the innovations will flow. Only the kind of systemic, transformative changes to our energy innovation system described in this provocative book will help us avert the most dire scenarios and achieve a sustainable and secure energy future. (shrink)

With the implementation of national carbon emission reduction policies and the development of online shopping, manufacturers are making low-carbon efforts and selling products through dual channels. This paper constructs a dual-channel supply chain decision-making model composed of low-carbon emission reduction manufacturers and retailers and studies the optimal decision-making problem of the supply chain under subsidies by the government based on emission reduction R&D and per unit product emission reduction. The research results show the following: when the government (...) subsidizes emission reduction R&D, the emission reduction will have an impact on retailers’ optimal prices, manufacturers’ optimal wholesale prices, and optimal direct sales channel sales prices. The profit of the manufacturer increases with the increase in carbon emissions, and the profit of the manufacturer increases to a certain level and then appears to decline. When the government adopts a subsidy method based on the emission reduction per unit product, the manufacturer’s wholesale price and the selling price of direct sales channels, as well as the retailer’s own optimal price, will increase with the increase in emission reductions. Retailers’ profits will increase linearly with the increase in carbon emissions. Manufacturers’ profits will first increase in a straight line and then increase in a curve. (shrink)

Several studies on ethical and social food attributes have shown that consumers, especially in developed countries, are willing to pay a price premium for fair trade foods products. However, there is a scant literature on how consumers’ preferences and willingness to pay for fair trade products are affected by the presence of other ethical food attributes. To fill this gap, a choice experiment was conducted in Scotland, the Netherlands and France to assess consumers’ preferences and WTP for ethical attributes, i.e., (...) fairtrade, organic, and lower carbon footprint, of bananas and to find out whether this ethical food attributes are competing in real markets. The results showed that in the three countries consumers are willing to pay a price premium for the three ethical food attributes. The results showed that in the current market situation these ethical foods are not generally competing against each other. Nonetheless, they are likely to become competing for consumer’s money at least when: the price of organic foods is decreased significantly, the price for fairtrade food products is set higher than consumers’ WTP, and bananas labeled as having lower carbon footprint are made available in retail stores and sold at a price lower than consumers’ WTP. (shrink)

Climate justice demands polluters to take responsibility for both present and future harm caused by past GHG emissions and for future harm caused by future GHG emissions. One problem with this is double climate taxation: people living in historical polluting countries must both shoulder the burden of an effective and inclusive climate transition and repay the climate debt incurred by their predecessors. Although double climate taxation might be defensible on normative grounds, it risks making climate justice politically infeasible. I therefore (...) maintain that global climate justice should focus on future, rather than past, climate harms. The forward-looking polluter pays principle (FL-PPP) can ensure both a cost-effective climate transition and a fair distribution of the climate burden, provided it is applied as follows: i) each country must introduce a carbon price calibrated to the global social cost of carbon; ii) each country must transfer part of carbon revenues collected at the country level to an international fund; iii) global carbon revenues must be redistributed on the basis of the country-level social cost of carbon. The FL-PPP burden can be made more progressive, moreover, if the formula for allocating global carbon revenues is adjusted through two coefficients, one consumption-based and one priority-sensitive. (shrink)

Argues for the justice of a land based allocation of rights to emit carbon dioxide on the basis of the fact that this would involve recognizing duties to land and would in fact be more fair and workable than proposals based on per-capita allocations.

"Although the task of formulating an appropriate policy response to the problem of anthropogenic climate change is one that raises a number of very difficult normative issues, environmental ethicists have not played an influential role in government deliberations. This is primarily due to their rejection of many of the assumptions that structure the debates over policy. This book offers a philosophical defense of these assumptions, in order to overcome the major conceptual barriers to the participation of philosophers in these debates. (...) There are five important barriers: First, the policy debate presupposes a stance of liberal neutrality, as a result of which it does not privilege any particular set of environmental values over other concerns. Second, it assumes ongoing economic growth, along with a commitment to what is sometimes called a weak sustainability framework when analyzing the value of the bequest being made to future generations. Third, it treats climate change as fundamentally a collective action problem, not an issue of distributive justice. Fourth, there is the acceptance of cost-benefit analysis, or more precisely, the view that a carbon pricing regime should be guided by our best estimate of the social cost of carbon. And finally, there is the view that when this calculation is undertaken, it is permissible to discount costs and benefits, depending on how far removed they are from the present. This book attempts to make explicit and defend these presuppositions, and in so doing offer philosophical foundations for the debate over climate change policy"--. (shrink)

In this article I hold that utilitarians are wrong to want to disaggregate climate- induced harm, whether in terms of chaotic or linear causality. This is not because individual emissions do not count, in probabilistic terms, for risk projections of overall climate dam- age, rather because individual emissions only contribute to increasing atmospheric CO2 concentration if the anthropogenic flow of CO2 exceeds the amount of CO2 that can be naturally taken up by the biosphere, over a given time segment. I (...) therefore maintain that individual climate duties consist of reforming the social and technological structures that make each individual emission part of a collective phenomenon, global warming, which leads to an enormous global disutility, climate change. In the final part of the article, I ar- gue that utilitarian ethics would have much more to say if, instead of focusing on the dis- aggregation of climate-induced harm, it addressed the key issues of the energy transition, i.e. carbon pricing, research and development in green technologies and climate finance. (shrink)

Environmental commodification, trading and offsetting are business as usual approaches to environmental policy. There is also consensus across political divides about the need for economic growth. Many environmental NGOs have become apologists for corporate self-regulation, market mechanisms, carbon pricing/trading and biodiversity offsetting/banking, while themselves commercialising species 'protection' as eco-tourism. In this issue of Environmental Values the state and direction of the environmental movement are at the fore. D'Amato et al. contrast pragmatism with the need for revolutionary change and (...) consider which will achieve social ecological transformation. Parry raises the issue of how animal activists should operate within an idealised deliberative democracy and what they could then legitimately justify doing to further their cause. Quist and Rinne are concerned with the challenges that disenfranchised groups face in building shared agendas and expressing themselves in their struggles to protect the environment and their ways of life. How natural resource extraction issues are framed by the media is the concern of Davies et al. Issues of power, inclusion and representation in the environmental movement are also raised in the paper by Fenney, which addresses the challenges specifically faced by disabled people. Societal change is an inherently value laden and political issue. Environmental policy is no more a win-win than any other policy; this journal issue shows how different polices change winners and losers. (shrink)

Integrated assessment models (IAMs) of climate and the economy provide estimates of the social cost of carbon and inform climate policy. With the Nested Inequalities Climate Economy model (NICE) (Dennig et al. PNAS 112:15,827–15,832, 2015), which is based on Nordhaus’s Regional Integrated Model of Climate and the Economy (RICE), but also includes inequalities within regions, we investigate the comparative importance of several factors—namely, time preference, inequality aversion, intraregional inequalities in the distribution of both damage and mitigation cost and the (...) damage function. We do so by computing optimal carbon price trajectories that arise from the wide variety of combinations that are possible given the prevailing range of disagreement over each factor. This provides answers to a number of questions, including Thomas Schelling’s conjecture that properly accounting for inequalities could lead the inequality aversion parameter to have an effect opposite to what is suggested by the Ramsey equation. (shrink)

[Book Review] Joseph Heath sometimes plays the role of a gadfly in climate and environmental ethics. He often defends conventional, economics-focused claims which rub many philosophers the wrong way—claims that are at the heart of issues raised in these pages, claims such as that discounting is justifiable, growth is good, or cost-benefit analysis is appropriate in liberal democracies. I think we can all agree that sophisticated defences of conventional positions play an important part in the ecosystem. For philosophers, a gadfly (...) can challenge entrenched conceptions. If we agree that these goals are worthwhile, then this book serves as a useful summary and synthesis of the ways Heath has ably defended conventional claims about climate policy. (shrink)

Reducing greenhouse gas emissions has the 'co-benefit' of also reducing air pollution and associated impacts on human health. Here, we incorporate health co-benefits into estimates of the optimal climate policy for three different climate policy regimes. The first fully internalizes the climate externality at the global level via a uniform carbon price (the 'cooperative equilibrium'), thus minimizing total mitigation costs. The second connects to the concept of 'common but differentiated responsibilities' where nations coordinate their actions while accounting for different (...) national capabilities considering socioeconomic conditions. The third assumes nations act only in their own self-interest. We find that air quality co-benefits motivate substantially reduced emissions under all three policy regimes, but that some form of global cooperation is required to prevent runaway temperature rise. However, co-benefits do warrant high levels of mitigation in certain regions even in the self-interested case, suggesting that air quality impacts may expand the range of possible policy outcomes whereby global temperatures do not increase unabated. (shrink)

Joseph Heath sometimes plays the role of a gadfly in climate and environmental ethics. He often defends conventional, economics-focused claims which rub many philosophers the wrong way—claims that are at the heart of issues raised in these pages, claims such as that discounting is justifiable, growth is good, or cost-benefit analysis is appropriate in liberal democracies. I think we can all agree that sophisticated defences of conventional positions play an important part in the ecosystem. For philosophers, a gadfly can challenge (...) entrenched conceptions. If we agree that these goals are worthwhile, then this book serves as a useful summary and synthesis of the ways Heath has ably defended conventional claims about climate policy. (shrink)

Deep decarbonization – slashing global greenhouse gas emissions to net-zero – now dominates global climate policy. Two recent books assess feasible routes to achieve deep decarbonization. Bill Gates’ How to Avoid a Climate Disaster explains in depth why deep decarbonization requires significant innovations in tech, and Danny Cullenward and David Victor’s Making Climate Policy Work emphasizes the importance of policy innovation (beyond carbon pricing) for driving clean tech breakthroughs. In this critical review essay, I summarize and assess both (...) books. In the final section, I raise several normative questions, which the pair of books might lead us to. (shrink)

In this article, I discuss whether, in addition to pricing emissions, we should prohibit a specific category of luxury emissions, those arising from goods and services that only the richest can afford. In the first part, I ask whether a justification for such a prohibition can be derived from emissions sufficientarianism. I argue that emissions sufficientarianism does not explain why we should prohibit only high-wealth emissions and not also the recursive production of emissions that are neither high-wealth nor subsistence. (...) Moreover, it does not provide a reason why we should prevent the production of high-wealth emissions by those who have offset them ex ante. In the second part, I ask whether a justification for the prohibition of high-wealth emissions can be based on emissions limitarianism. I argue that emissions limitarianism can explain why we should prohibit only high-wealth emissions, but it cannot account for why high-wealth emissions are bad even if they are offset ex ante. In the third part, I use two arguments, positional consumption and moral disengagement, to explain why carbon offsetting cannot be used as a means of circumventing the emissions ceiling. I conclude with a brief overview of the policy implications of this normative discussion. (shrink)

An organization emits carbon dioxide (CO2) and other greenhouse gases (GHGs) through its daily operations, such as the electricity used to power its offices, manufacture products, and then fossil fuels used in vehicles to distribute them. This is referred to as an organization’s carbon footprint, and there is increasing stakeholder and regulatory pressure on management teams globally to reduce them. On other words, it is increasingly critical that the quantity of carbon dioxide and other greenhouse gases that (...) a company is releasing into the atmosphere can be accurately measured in order to ensure that is being reduced accordingly. The European Union Emissions Trading System (EU ETS) is the most crucial tool for decarbonizing Europe, but it has also become a money-making machine. States and financial investors earn; for the power industry, which pays for it, the worst thing is not the system’s presence but its instability. Huge price jumps make it impossible to plan budgets and investments sensibly. This paper provides an introduction to the EU’s Emissions Trading System. As such it provides a discussion of the historical and legal context in which the EU ETS developed and now operates. This article covers the various ways in which these market dynamics, regulatory requirements and stakeholder expectations have converged to make European carbon markets a critical topic for today’s analyst. (shrink)

Biodiversity offsetting is an increasingly popular policy instrument used to compensate for losses in biodiversity and ecosystem services caused by development projects. Although evidence suggests that offsetting can yield significant environmental benefits, application of the policy instrument is surrounded by controversy. Among other things, critics argue that offsetting builds on normatively contentious assumptions regarding the value of nature and the fungibility of biodiversity components, such as species, habitats, ecosystems, and landscapes. A large portion of the criticism targets the allegedly illegitimate (...) commodification of nature that the policy instrument entails. Exploring the significantly more developed normative discussion on carbon offsetting, this article identifies four arguments that plausibly could be made to support the claim that it is wrong to commodify nature in the way biodiversity offsetting schemes do: the common ownership argument, the price argument, the non‐substitutability argument, and the “crowding out” argument. Although none of the arguments definitively invalidate the use of biodiversity offsets, they provide good reasons to proceed with caution when designing and implementing them. (shrink)

In recent years, new forms of high-tech controlled environment agriculture (CEA) have received increased attention and investment. These systems integrate a suite of technologies – including automation, LED lighting, vertical plant stacking, and hydroponic fertilization – to allow for greater control of temperature, humidity, carbon dioxide, oxygen, and light in an enclosed growing environment. Proponents insist that CEA can produce sustainable, nutritious, and tasty local food, particularly for the cities of the future. At the same time, a variety of (...) critics raise concerns about its environmental impacts and energy use, high startup costs, and consumer accessibility challenges, among other issues. At this stage, however, relatively little research has explored actual consumer knowledge and attitudes related to CEA processes and products. Guided by theories of sense-making, this article draws from structured interviews with local food consumers in New York City to examine what people know and think about high-tech CEA. From there, it explores the extent to which CEA fits into consumer conceptualizations of what makes for “good food.” Key findings emphasize that significant gaps in public understanding of CEA remain, that CEA products’ success will depend on the ability of the industry to deliver on its environmental promises, and that concerns about “unnatural” aspects of CEA will need to be allayed. Given the price premium at which high-tech CEA products are currently sold, the industry’s expansion will depend in large part on its ability to convince value-oriented food consumers that the products meet the triple-bottom-line of economic, social, and environmental sustainability goals. (shrink)

In the first decade of the twenty-first century, biofuels were recognized as an important element in the overall strategy to reduce climate-forcing greenhouse gases, especially carbon dioxide. Yet scientific research to more fully realize the potential of agricultural crops for liquid transportation fuel requires the coordination of many separate projects housed in different disciplines. Studies predicting and documenting adverse social impacts of plant-based ethanol and biodiesel led to the inclusion of social science components within research teams seeking to develop (...) biofuels. A 2008 rise in global food prices became a centerpiece of this research, leading to a search for non-food crops that could serve as energy feedstocks. Although coordinated scientific research teams have made significant strides toward incorporating social dimensions and broader impacts into what was originally a purely biophysical research effort, a simplistic diagnosis of the tension between agricultural production for food use and agricultural production intended for energy production continues to prevail. Some of the hard questions in the global development of the agricultural sector have been obscured as a result. (shrink)

Product-harm crises can trigger product recalls or product discards, which is very likely to cause secondary pollution to the environment. Also, these crises may harm customers’ health and threaten firms’ survival. To foster low-carbon economy and green development in such complex systems, this paper studies the internal mechanism of the product crisis and its impact on the firm value. It proposes a two-stage model to avoid the endogeneity of product-harm crises. In the first stage, this paper assesses the effect (...) of firms’ leverage on their capacity to produce higher quality products. In the second stage, this paper conducts the impact of these crises on stock prices. Then, it depicts the financial effects of product-harm crises over time, and analyzes the differences of such effects based on brand equity. Results show that book leverage can positively impact firms’ capacity to produce high-quality products. In addition, the market’s response to product-harm crises is significant at 1% level, and with the increase in severity, the market reaction is more prominent. Furthermore, its negative effect is persistent for a firm experiencing a severe crisis. Luckily, brand equity can mitigate this negative impact. These findings provide some ways to improve product performance and firm value in the green context. (shrink)

continent. 1.1 (2011): 22-25. The Author gratefully acknowledges the financial support of CAPES (Coordenação de Aperfeiçoamento do Ensino Superior), Brazil. From the multifarious subdivisions of semiotics, be they naturalistic or culturalistic, the realm of semiotics of value is a ?eld that is getting more and more attention these days. Our entire political and economic systems are based upon structures of symbolic representation that many times seem not only to embody monetary value but also to determine it. The connection between monetary (...) and linguistic exchanges is self-evident: the former requires the latter and develops in direct relation to it. Creative experimentation and design of digital systems of value exchange are blossoming on the web. Dr. Gilson Schwartz, an economist turned media theorist and professor at the University of São Paulo, adopted the concept of Iconomics, originally created by Michael Kaplan, an author concerned with the linguistics of economic value. Empowering local communities and unlocking new levels of value creation and representation via digital technologies are the main goals of Dr. Schwartz’s projects, aiming at the re-designing of our relationship to the economic value of imagination and the social control of property. Schwartz is Assistant Professor at the School of Communication and Arts of the University of São Paulo, a former Chief Economist at BankBoston, Brazil and Advisor to the President of the National Social and Economic Development Bank (BNDES). FURTHER READING: Kaplan, Michael. “Iconomics: The Rhetoric of Speculation.” Public Culture . 15.3 (2003): 477-493. Renata Lemos-Morais: You have recently produced and directed a short documentary about Creative Currencies in Latin America. Could you tell us a bit about its process and its findings? Gilson Schwartz: The “Creative Currencies” project is a work-in-progress platform which unfolds as an action research agenda connected both to the production of audiovisual content and the development of social currency software. The initiative dates back to 2003 when I led an experimental project supported by the Presidency of Brazil. At that time, we issued paper currency in a small, touristic village in the Northeast Region which stimulated local cultural projects. But it was only in 2009 that the Central Bank of Brazil acknowledged “social currencies” as a legitimate economic agenda, calling for more debate at the I Financial Inclusion Forum. This year, the monetary authorities organized a second forum that also opened the room to discussions on mobile payment systems and new perspectives on poverty alleviation via State subsidies. The Ministry of Culture funded the “Creative Currencies” project in 2009-2010 and our next stage in this discovery process is to be supported by the National Social and Economic Development Bank (BNDES). In short, there is genuine interest among public officials in different areas and public funding for social currencies is on the rise in Brazil. However, after all these years we are still at a very early stage of research and practice. Some of the most successful initiatives (such as Banco Palmas) actually evolved out of local monetary creation to become correspondent banking operations for commercial banks and other financial groups. After eight years of price stability and social inclusion, Brazil stands out as a major opportunity for social experimentation, even the Grameen Bank is now entering the Brazilian market and many NGOs are geared towards different forms of entrepreneurialism in the base of the pyramid, riding solidarity economic models, microfinance and microcredit for local development. It is yet to be seen, however, whether these developments are just one more stage of “bankarization”, that is to say, an extension of regular banking services or actually a new form of social and symbolic self-determination at the local level. So far, the Central Bank of Brazil is open to new forms of credit and local finance as long as they are strictly territorial and very close to barter among the poor. In other words, whether the process of monetary creation could be made to fit an open source paradigm is yet to be seen. Community banking and social currencies might as well end up as just another channel for access to and use of banking services. The “Creative Currencies” project aims at promoting the discussion of more fundamental issues, such as the limits of central banking, the prospects for local financial development and the possibility of creating and managing financial icons as cultural assets. The purpose of this project is to produce short documentaries that will bear testimony to this evolving regulatory framework while inducing more discussion about the fundamental iconomic issues concealed in the process of money and wealth creation. RLM: What new potential is there in applying digital technologies to currency creation? GS: Globalization is a result of the virtualization of money, that is, the overcoming of illusions such as the “gold standard”. Money is an icon created by institutions, not on supposedly natural or material foundations but out of political and financial interests. The “dollar standard” is an outstanding evidence of this phenomenon and Kaplan´s paper, the first to use the expression “iconomics”, insists on the rhetoric and semiotic effects associated to a supposedly scientific model of money creation and management. This is a fundamental change that was perceived and discussed much before the digitalization of the world by unorthodox economists such as John Maynard Keynes since the early 20th century. The digitalization of global financial flows accelerated this immateriality and the creation of the Euro was yet another evidence of the political foundations of currencies. The banking establishment, however, is keen on the idea that scientific formulae hold the key to sound money creation. Keynesianism has been repeatedly associated to “inflationism” while the supposedly sound monetary policies of the Orthodoxy serve well the political and financial interests of a technocratic elite. Corporate media also serve this fictitious depiction of the monetary process despite the cyclical bust of monetary rules and financial regulations. The internet, however, has created numerous opportunities for the disintermediation in industries such as film, music and commodities. There is no reason to doubt that the financial industry can also be transformed by Peer-to-Peer (P2P) infrastructures. Money is media as well. Credit is but confidence. Once people realize that the distributed computing power of networks can also be the platform to weave new monetary and credit operations, there is room for grassroots emancipation out of the established owners of monetary institutions. So far, however, there has been a privatization of monetary management and there is not a clear path or model for the emergent (P2P) property democratization that is inherent to the internet. Digital assets, however, clearly have an inherent potential to escape central control and proprietary regulatory frameworks. RLM: How are social networks transforming the ways in which we exchange value? Do you believe that online influence and reputation might be translated into a new kind of currency? GS: The foundation for social currencies as envisaged by solidarity economics is the territory. Authorities are willing to concede local monetary creation as long as it is restricted to poor neighborhoods, as a proxy to barter. In this relevant but limited context, reputation, personal knowledge and informal ties form the matrix of local or “proximity” finance which are expected to keep credit and leverage to a sustainable level. Anything beyond that should and would lead to an integration of local finance into the established banking system. However, inasmuch as the internet promotes virtual territories and reputation is now subject to all sorts of digital manipulation and stardom becomes an everyday cultural process among teenagers and elders alike, the territorial “foundation” is substituted for more complex patterns of solidarity, cooperation and exchange that reach beyond the physical territory and even the “human.” Digital assets embody knowledge, technology, cultural and educational values that are exchanged at a global scale beyond the control of democratic States (Chinese-like intervention is the exception, not the rule). Hacktivism is unstoppable and so is monetary hacktivism. Especially in the Third World, mobile communications fast became conveyors of money transfers and other appropriation strategies. Banking and telecom sectors already battle for the control of these emerging markets and, as a matter of fact, have so far contributed to the containment of these processes. Governments serve these moguls and have usually adopted a wait-and-see attitude. If open source hardware and grassroots social movements combine to challenge these proprietary battles, then social networks may evolve into new forms of social capital and thus form the ground on which to design and implement social currencies. The global financial crisis, as well as the dollar demise, are an event of such a proportion that social networks may open the path for emancipator subjects to seize the opportunity. RLM: What are some of the social experiments that you think are revolutionizing the way in which value is exchanged? GS: There is a broad evolution of economic systems towards the valuation of intangible assets such as knowledge, reputation and sustainability. There are many examples of local as well as global events that call the traditional systems of exchange into question, from carbon credits to educational bonuses, digital barter frameworks and locally based solidarity and fair trade networks. These emerging examples, no matter how different in nature or scale, represent a challenge to the traditional value creation schemes and theories which are based on use and exchange value, supply and demand. This is not to say that utility and labour or scarcity are to be totally dismissed, but there is now an emerging perception that value is also a function of behavioral codes, symbolic patterns and the energy of institutional frameworks. The plasticity of digital platforms is relevant insofar as intellectual property becomes the central source of value creation. But when you discuss the property rights of public goods such as the environment or basic social rights (of minorities or localities), then a new paradigm seems to emerge. RLM: Are gaming and online storytelling digital practices that might have an impact on the way new currencies are created and developed? GS: “Play money” has been one of the early and most intriguing phenomena associated to the diffusion of virtual worlds. These virtual currencies have also been prone to “boom and bust” dynamics, speculation and pure theft (Second Life scams were common and led to “intervention” by the owners of the game). Storytelling is a major source of value, that is, the value of attention and the markets for audience. There are plenty of private monies created and managed by corporate entertainment groups, telecom operators (via mobile virtual network operators) and marketing frameworks. The casino economy, as already depicted by Keynes and other unorthodox economists, is always storytelling about future states of the world, confidence building and leverage of animal spirits. The novelty of current events is not the fictitious nature of any form of capital, but the potential for digital democratization of controls over the imaginary nature of value creation. But this is just a potential, a possibility, a figment that more often than not is appropriated by centralized and opaque private powers. The game industry is a testbed for new connections between storytelling and money creation. RLM: Monetary value was originally connected to the scarcity of precious metals, such as gold. Our entire monetary system seems therefore to function according to a logic of scarcity. Do you believe it is possible to reverse this logic into a logic of abundance? GS: The gold standard was a fiction itself, the “scarcity” is always produced by institutions that regulate confidence and access to credit. The key issue is not to fabricate abundance, but to question the institutions which produce scarcity out of any standard, gold or whatever. Central banks are at the service of private banks in the creation and management of scarcity. RLM: The promise that nanotechnology holds for our future is one of radical abundance (or so say transhumanists). The possibility of creating any kind of material substance through nanoengineering seems each day more feasible. What would this possibility entail in terms of systems of value exchange? GS: Nanotechnology, environmental concerns and grassroots appropriation of distributed knowledge are the frontiers of a new horizon of energy creation and management. Social groups in charge of managing scarcity for the sake of wealth and power concentration must be held accountable for the destruction of our future. Once this key political conundrum is accounted for, new systems of value exchange and even a non-mercantile society will come into existence. Revolutionary theorists such as Marx envisaged transformation via the extreme clash of contradictions between capital and labour. This approach has never led to a change in the systemic logic of scarcity for the sake of social control. We are once again facing the threshold of large scale societal change, but the outcome of the current crisis should come from our imagination, not from yet another paradox of abundance and scarcity. As long as we remain attached to the materiality of value, the illusion of freedom will but reinforce the massive manipulation of necessity. RLM: What do you think is the role of crowdfunding in this context? GS: Crowdsourcing as well as crowdfunding are examples of the peer to peer opportunities that come along with distributed computer power. However, the power structure behind wealth and scarcity creation may or may not be changed by crowd management. But it should not be taken at face value, so to speak. The stock market of course is an early form of crowdfunding without calling into question the proprietary framework of the companies offering their investment projects to the market. Any market is a form of crowdsourcing, that is to say, of distributed forms of supply and demand matchmaking. The wealth of networks, however, depends on the contractual ecosystem, the institutional framework, the channeling of social imagination, not on the purely quantitative distribution of bids and offers. I see economics as supply, demand and code. Once you have access to the code, once openness becomes part of the game, then there is a chance of crowd behavior becoming collective intelligence and sustainable imagination. RLM: Is the development of digital currencies headed towards a pluralistic ecology in which many micro currency systems co-exist, or is it penetrating the mainstream monetary system? If it is affecting the mainstream financial system, what would be its effect in the long-term? GS: The same issue is at stake both at local and global levels. The global system is, as a matter of fact, an unstable ecosystem of “micro currencies” whereas the dollar has so far exerted an overwhelming influence. Local currencies and private monies coexist with national currencies only to the extent that the Central Bank admits, for instance, that grassroots monetary emissions remain territorial and strictly connected to poverty. However, the question of how new developments in digital technologies and nanotechnologies might alter not only our current monetary systems but also our understanding of value in itself, is still an open question. (shrink)

As the negative environmental impacts of transportation systems become more severe, governments and environmental groups are seeking more sustainable transportation options, such as replacing fuel-powered vehicles with electric vehicles and expanding public transportation systems to reduce the number of people driving on their own, in order to reduce the environmental impacts of transportation systems. At present, the rapid expansion of public transportation systems is not an easy task and requires a long period of time to plan for expansion and construction, (...) so people are increasingly looking to find means of transportation that meet sustainable conditions as solutions. In this context, electric bicycles are one of the solutions that people can choose, with benefits such as energy saving, carbon reduction, effective air pollution reduction, and simple and labor-saving riding. However, in Taiwan, despite the many benefits of electric bicycles, their popularity is not high. Therefore, this study focuses on the factors that affect the purchase of electric bicycles in Taiwan. The Influential Network Relation Map generated by the Z-based Decision-making Trial and Evaluation Laboratory technique is used to describe the influence relationships among the factors and to establish the key evaluation criteria of electric bicycle purchase intention. The results indicate that vehicle price, safety, motor performance, battery life, and battery durability are the most important factors in purchasing electric bicycles. Furthermore, the power of motor is considered as the factor that most significantly affects other criteria, while safety and price are most likely to be affected by other criteria. This study has contributed to academia and industry, for the dependency weights of these factors are set to provide a scientific and systematic way to show how consumers think in the decision-making process and to provide more reliable information and management implications for the electric bicycle industry. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:Climate Justice: Ethics, Energy, and Public PolicyWillis JenkinsClimate Justice: Ethics, Energy, and Public Policy James Martin-Schramm Minneapolis: Fortress Press, 2010. 232 pp. $20.00Religious ethicists are sometimes tempted to interpret climate change as symptomatic of a civilizational corruption so deep that practical responsibility seems nearly impossible. In its considered treatment of energy options and policy responses, [End Page 198] Climate Justice works to make applied Christian ethics competent to (...) address climate change. By interpreting political possibilities with Christian commitments to justice, the book makes a distinctively practical contribution to the literature on Christianity and climate; it lifts an important theological voice in the growing subfield of climate ethics.The book begins by elaborating the general notion of ecological justice into workable criteria. Martin-Schramm describes four basic norms of ecojustice (sustainability, sufficiency, participation, and solidarity), from which he develops twelve energy policy guidelines (e.g., equity, adequacy). He then specifies those guidelines into fourteen criteria by which to assess the justice of climate action (e.g., historical responsibility, emissions verifiability).Subsequent chapters use those criteria to evaluate policy options. A chief difficulty in applying them lies in the tension between intergenerational and intragenerational claims. Global climate negotiations founder on disagreements about these undeveloped, plural dimensions of justice. Martin-Schramm therefore deploys criteria with a balancing objective: to develop obligations to the future while recognizing claims of the present poor and vulnerable, and while keeping the result within the bounds of North American political viability.For example, Martin-Schramm recognizes that the criterion of historical responsibility indicates that the United States should bear about one-third of the costs of climate transition. But he finds that the resulting figure ($331 billion) so outstrips realistic acceptance that he rejects financial transfer in favor of a “national obligation wedge” in which the nation compensates by pledging to reduce future emissions. Since those emission reductions are unlikely apart from a price on carbon, Martin-Schramm argues that justice mandates a fossil fuel tax. With an eye to political viability, he proposes beginning with a modest $5/ton (for comparison, the Stern Report estimates the social costs of carbon at $85/ton).Controversy in the details matters to the whole project because the point of Martin-Schramm’s approach is that a meaningful climate ethic should guide contextual action. Yet other accounts of climate justice will find a scandal of modesty on those contextual points. Martin-Schramm’s climate justice entails less economic transformation than the “Northern structural adjustment” demanded by the Latin American Council of Churches. It is also less ecocentric than accounts from indigenous theologians arguing that justice warrants rights for species at risk of extinction, and perhaps for Earth itself.While Climate Justice is a self-consciously North American account, the criteria it develops would be different and work more critically were the underlying account of justice dialogically constructed across economic, political, and theological borders. Were it pragmatic, in the sense of arising from projects from across those borders, rather than applied deductively, a Christian climate ethic would likely produce an account of justice with more critical demands on industrial infrastructure and on ecological consciousness. [End Page 199]In its self-limitation, however, lies the book’s practical promise. Martin-Schramm wants justice to illuminate effective ways toward real responsibility. His criteria for justice imply that advocating for impossible goals, or for objectives that would imperil other conditions of social justice, would amount to injustice. Making ethics matter for climate change, he shows, requires understanding what justice can do in context.The open question for this book’s project is how a self-limited ethic of applied justice relates to the deeper processes of social transformation obviously needed for adequate response. Martin-Schramm closes with an account of his work reforming the energy economy of Luther College, which should inspire every reader with a sense of what persistent, informed, and contextual action can accomplish.Willis JenkinsYale Divinity SchoolCopyright © 2012 The Society of Christian Ethics... (shrink)