November 1, 2009

A Polycentric Approach for Coping with Climate Change

by Elinor Ostrom

- The author, who won the 2009 Nobel Prize in Economic Sciences, argues that single policies adopted only at a global scale are unlikely to generate sufficient trust among citizens and firms so that collective action can take place in a comprehensive and transparent manner that will effectively reduce global warming. As an alternative, the paper proposes a polycentric approach at various levels with active oversight of local, regional, and national stakeholders to reduce free-riding effects that can limit, for example, REDD and CDM.

Ostrom, E. (2009). "A Polycentric Approach for Coping with Climate Change." World Bank Policy Research working paper no. WPS 5095, Oct 2009.