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Challenges and Solutions in Climate Change Policies
This chapter explores the challenges in implementing climate change policies despite voter support, emphasizing the hurdles posed by the actual costs of these policies and the opposition to emission trading schemes. It discusses the importance of the finance sector in driving climate initiatives, particularly through specific financial innovations like contingent payment instruments tied to emissions. The chapter also delves into incentivizing firms for change, the effectiveness of R&D incentive schemes, and contrasts different approaches needed for different types of goods in climate change research.