Answer to Question #54641 in Microeconomics for milly

Question #54641
According to economic theory, under what circumstances should a government intervene in issues of climate change? (10 marks)
Climate change results from particular human activities in every country across the world. To what extent can government intervention in any individual country such as Singapore be effective in combating it? (5 marks)
What different public policy solutions are available to an individual government such as Singapore’s to combat climate change? What are the pros and cons of each? (10 marks)
Provide examples of what each of us as private individuals can do to combat climate change in the absence of government regulatio
Expert's answer
Climate change is caused by factors such as biotic processes, variations in solar radiation received by Earth, plate tectonics, and volcanic eruptions. Certain human activities have also been identified as significant causes of recent climate change, often referred to as "global warming".
Singapore has released a national climate change strategy document which outlines the country's plans to address climate change through a whole-of-nation approach.
The key elements of Singapore's climate strategy include reducing emissions across sectors, building capabilities to adapt to the impact of climate change, harnessing opportunities for green growth and forging partnerships on climate change action.
The 136-page document was launched by Deputy Prime Minister Teo Chee Hean, who is also the chairman of the Inter-Ministerial Committee on Climate Change.
Local Governments currently face few regulatory obligations to address climate change. Regulatory frameworks that address issues related to climate change are listed below.
1) The National Greenhouse and Energy Reporting Act
2) Carbon Pollution Reduction Scheme
3) Building Code of Australia (BCA)
4) State Planning Policy 2 Environment and Natural Resources
5) State Coastal Planning Policy
6) Local Government Water Conservation Plans

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