Meeting the challenge of climate change will require profound changes in institutions as well as technology and behavior. Institutions can take the form of property rights and markets for environmental impacts and services, fiscal and market incentives, and regulation of processes and performance.

We are initiating a pioneering effort to categorize and evaluate these alternatives, with the goal analysis of public policy, evaluation of corporate strategies and business opportunities for business and joint private public enterprise development.

A first research project is underway—the evaluation of alternative fiscal and market structures for the commercialization of carbon capture and sequestration (CCS) technologies. A first paper, "Pricing and Policy for CCS with Learning-by-Doing," was presented to the Lenfest Center Climate Colloquium last Fall. Model development within the Quantitative Institutional Analysis framework is proceeding.

© 2008 CEMTPP