Supply-side climate policies and the Yasuní-ITT Initiative
Date
2018
Authors
Macintosh, Andrew
Constable, Amy
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Volume Title
Publisher
Thomson Reuters
Abstract
In recent years, there has been a surge of interest in the use of supply-side
climate policies (ie those aimed at reducing the supply of fossil fuels) as an
alternative to demand-side approaches, such as carbon taxes (ie those aimed
at reducing the use of fossil fuels). Proponents assert that where demand-side
policies have failed, supply-side approaches will succeed, often ignoring or
downplaying the institutional, political, social and economic factors that
impede progress and the importance of policy design. To illustrate the types of
design flaws that can emerge in supply-side approaches as a result of these
factors, this article critically evaluates one of the most well-known of these
proposals, Ecuador’s Yasuní-ITT Initiative. The article analyses the factors that
shaped its design and its technical deficiencies, providing new insights on why
the Initiative failed and the blessings in its termination. The lesson from the
Yasuní-ITT Initiative is that, while supply-side approaches have potential, like
demand-side approaches, their effectiveness depends on how well central
policy actors supportive of their use are able to manage the factors that shape
and constrain their choices, and how this is reflected in policy design and
implementation.
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Source
Environmental and Planning Law Journal
Type
Journal article
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Restricted until
2099-12-31
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