Problem
i. Nick Stern has called climate change "The biggest market failure the world has ever known." To explain what he meant by this, consider the emissions of CO2 and PM2.5 from a power plant. Contrast (i) the number of people affected by the CO2 emissions v. the PM2.5 emissions; (ii) the length of time each pollutant resides in the atmosphere.
ii. Describe the provisions of the Kyoto Protocol, and explain its limitations. How do the provisions Paris Accord differ from the Kyoto Protocol?
iii. Some people have called for banning/eliminating single-use plastics-these include plastic shopping bags, garbage bags, food packaging equipment, plastic bottles, etc. What are some questions to rise to determine the costs of such a scheme? What are some benefits can assess to? (Keeping in mind the concerns about plastics).