Are Commitment Devices A Solution To Climate Myopia?
Commitment devices offer a potential solution to the gap between climate pledges and action by binding policymakers to long-term goals. Real-world examples, like renewable energy mandates and carbon pricing mechanisms, demonstrate the efficacy of commitment devices in driving sustainable change. However, challenges such as loss of flexibility and democratic deficits must be addressed to ensure the success of these mechanisms in tackling the climate crisis.
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Edition 1/Technology