Many low-carbon energy solutions, such as solar farms, biofuel refineries and clean coal plants, could consume billions of gallons of fresh water and significantly change land use.
How can unintended consequences and systemic risks in managing global commons be moderated?
Key Points
• The fact that the world is quickly outpacing its ability to replenish resources that are fundamental to our economies requires rethinking our approach to global governance.
• Markets need to reflect the scientific assessment of what is happening to the planet, and the danger is that market forces may react too slowly to prevent catastrophe; as a result, it might be necessary to resort to a regulatory environment to fine-tune market forces.
• The world has limited bandwidth and there is a danger of drowning in too much information; success depends on choosing achievable, clearly defined and manageable projects and integrating them into a global framework.
• With a diversity of interests and agendas, a practical approach is to form coalitions of like-minded groups or countries and expand from there.
• The most effective approach to financing is to leverage public funding to obtain more substantial funding from the private sector; this may be as simple in some cases as using public funds to provide guarantees to private sector investment.
• New structures, governance mechanisms and new ideas are needed to re-energize a process that is burdened with the weight of existing efforts...
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