Article published in Ecological Econmics vol 175 (Sept. 2020)
In “Why environmental management may yield no-regret pollution abatement options”, Ecological Economics, 2009, Bréchet and Jouvet claim to have theoretically shown that profits maximizing firms can reduce pollution compared to laissez-faire and increase their profits. We correct multiple errors in their paper, with the conclusion that their claim no longer stands.
Adopting disruptive technologies for decarbonizing hard-to-abate industrial sectors requires experimentation through demonstration (pilot) projects. However, from an economic perspective, the potential long-term benefits and the difficulties in designing relevant public policies are not addressed in the standard valuations of those projects.
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