Climate Change - The Tragedy of the Commons

In this enlightening episode of "Sustainability Forward," hosts Wrishi and Carmine dive deep into the complexities of climate change with the esteemed Professor Karl Schmedders from IMD. As the world faces an unprecedented environmental challenge, understanding the economic underpinnings and potential solutions becomes crucial. From the latest alarming findings by the World Meteorological Organization to exploring the "tragedy of the commons," this episode unravels why climate change represents the ultimate market failure and what can be done about it.

Professor Schmedders brings his vast expertise in finance and economics to discuss why the climate crisis is different from any other economic challenge, dubbing it the "mother of all externalities." The conversation navigates through potential solutions such as carbon permits, border carbon adjustments, and corporate incentives, weighing their pros and cons in our quest for sustainability.

Join us as we explore the intersection of economics and environmentalism, shedding light on how we can leverage market forces for the greater good. Whether you're a climate enthusiast, a professional seeking to incorporate sustainability into your business, or simply curious about the economic aspects of climate change, this episode offers invaluable insights into harnessing the power of economics to combat one of the most pressing issues of our time.