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Human-induced climate change has become a prominent political issue, at both national and international levels, leading to the search for regulatory 'solutions'. Emissions trading has risen in popularity to become the most broadly favoured government strategy. Carbon permits have then quickly been developed as a serious financial instrument in markets turning over billions of dollars a year. In this article, I show how the reality of permit market operation is far removed from the assumptions of economic theory and the promise of saving resources by efficiently allocating emission reductions. The pervasiveness of Greenhouse Gas emissions, strong uncertainty and complexity combine to prevent economists from substantiating their theoretical claims of cost-effectiveness. Corporate power is shown to be a major force affecting emissions market operation and design. The potential for manipulation to achieve financial gain, while showing little regard for environmental or social consequences, is evident as markets have extended internationally and via trading offsets. At the individual level, there is the potential for emissions trading to have undesirable ethical and psychological impacts and to crowd out voluntary actions. I conclude that the focus on such markets is creating a distraction from the need for changing human behaviour, institutions and infrastructure. [ABSTRACT FROM AUTHOR]

This paper presents an analysis of changing rationales and tactics among actors engaged in mobilising private finance for Indonesia's emergent Reducing Emissions from Deforestation and Forest Degradation ( REDD+) programme. Despite limited flows of private finance so far, private sector actors have been responsible for a great deal of development and innovation in the forest carbon sector in Indonesia, and have thus played - and continue to play - an important part in shaping the country's REDD+ programme. Drawing on extended field research and interviews with key actors engaged with REDD+ in Indonesia, we identify a variety of private investor motivations, strategies and tactics, many of which depart considerably from the common understanding of REDD+ as avoided deforestation funded through carbon offsets. As non-state actors increasingly shape emerging REDD+ projects, they assume important roles as agents of environmental governance - working through a variety of private market and hybrid modes of forest/climate governance. We describe four general modes of engagement, centred around: investment in REDD+ verified emissions reductions; corporate social responsibility; sustainable commodities; and impact investment. The research thus contributes to an improved understanding of the nature of private REDD+ finance in Indonesia, and the implications, potential and limits of private, market-based climate governance. [ABSTRACT FROM AUTHOR]

The urgent need to address the current climate crisis has highlighted the need to shift from planning to implementing decarbonisation strategies. Despite the importance of shifting towards the implementation of strategic plans and the increasing ubiquity of place-based approaches to decarbonisation, few studies have considered the dynamic of how place is mobilised and the scales at which narratives are translated into action. The aim of the article is to understand the ways in which place and scale are incorporated into the governance of place-based decarbonisation visions by drawing upon a relational framing. Based on semi-structured interviews with key stakeholders and a document review, the article focuses on how place is used to develop and justify two different approaches for supporting localised decarbonisation, Local Area Energy Plans and the Energy Innovation Agency in Greater Manchester, UK, a city region aiming to achieve carbon neutrality by 2038. The findings reveal that achieving localised decarbonisation ambitions is contingent upon the interaction between multiple places and scales, as well as the need for an overarching guiding framework. The authors conclude that Greater Manchester's decarbonisation ambitions incorporate both absolute and imagined understandings of place, with place being both created and mobilised to achieve decarbonisation ambitions. [ABSTRACT FROM AUTHOR]

Despite the apparent failure of international negotiations and renewed criticism of the accuracy of climate science, responses to climate change continue in households, cities, fields, and meeting rooms. Notions of “doing something about”, or “taking action on” or “mitigating and adapting” to climate change inform practices of carbon trading, restoring native forests, constructing wind turbines, insulating houses, using energy efficient light bulbs, and lobbying politicians for more or less of these actions. These expressions of agency in relation to climate change provide the focus of our enquiry. We found that relationships or social networks linked through local government are building capabilities to respond to climate change. However, the framework of “mitigation–adaptation” will need to be supplemented by a more diverse suite of mental models for making sense of climate change. Use of appropriate languages, cultural reference points, and metaphors embedded in diverse histories of climates and change will assist actors in their networked climate change responses. [ABSTRACT FROM PUBLISHER]