I examine a policy-making game among countries that must choose both a policy instrument (e.g., a tax or a quota) and its intensity (i.e., the tax rate or the quota level) to price pollution. When countries price pollution non-cooperatively, they not only set the intensity inefficiently, they...

India has massive poverty partly due to poor policies and partly due to inefficient and corrupt bureaucracy. There is a need to encourage social entrepreneurs and encourage public participation in poverty removal. A range of initiatives are required to create the right set of policies, practices...

Pennsylvania has the longest history of oil and gas drilling in the world, and the state's governance of the industry has matured and continues to evolve. The long history of policy development provides a panoramic perspective useful for the governance challenges of ensuring responsible oil and...

As financial institutions and policymakers worldwide are considering how to integrate sustainability considerations throughout financial systems, a critical question is whether banks can effectively assess and monitor borrowers' environmental credit risk. China's green credit reforms, part of...

There is growing impetus for a domestic U.S. climate policy that can provide meaningful reductions in emissions of CO2 and other greenhouse gases. I describe and analyze an up-stream, economy-wide CO2 cap-and-trade system which implements a gradual trajectory of emissions reductions (with...

Energy products such as power, gas, and oil have long been the world's premier commodities. Consumers demand that power and fuel are available when they want it and they prefer to pay less for it. Few know or care where their fuel or power comes from. So for years energy companies believed that...

The United States is in the middle of three profound energy revolutions — with booming production of renewable power, natural gas, and oil. The country is replacing coal power with renewable and natural gas power, reducing pollution while saving consumers money. And it has dramatically cut its...

The theory of the “Green Paradox” subverts the traditional theoretical foundation of the environmental policies. The crucial question is whether the green paradox holds and how large the impact is in reality, which has provoked heated debate among economists. This article identifies and...

Global warming can be curbed by pricing carbon emissions and thus substituting fossil fuel with renewable energy consumption. Breakthrough technologies (e.g., fusion energy) can reduce the cost of such policies. However, the chance of such a technology coming to market depends on investment. We...