Business & Society: Climate Change
Columbia Business School
Climate Change discussion as part of Prof. Glenn Hubbard's Business & Society course
4:05-4:30 Climate risks & opportunities
4:30-5:00 Climate policy; guest: Bob Litterman
5:00-5:35 Discussion
External effects lie at the heart of the economics of climate change. That goes both for negative carbon externalities, and for positive learning-by-doing and research-and-development ones. The task: price negative and subsidize positive spillovers. Pricing could happen either directly, via carbon taxes or cap-and-trade systems, or indirectly via CAFE standards for vehicles or Renewable Portfolio Standards for the grid. Subsidies, meanwhile, could entail anything from renewable energy to electric vehicles to tax credits for clean hydrogen and carbon capture.
Slides [PDF]
