The Politics of Carbon Markets

Featured Researcher: Ian Bailey, Professor of Environmental Politics

Professor Ian Bailey of the School of Geography, Earth and Environmental Sciences specialises in the politics of carbon markets, political strategy in national and international climate politics, the politics and practices of the green economy, and community engagement with marine and onshore renewable energy. His projects include collaborations with Fridtjof Nansens Institute, Oslo, on the politics of designing emissions trading scheme, and with Exeter and UEA on Intelligent Community Energy.

Ian has been engaged in research for over 15 years exploring the political challenges of developing effective carbon markets in the EU and a range of countries, including the EU, UK, Australia and New Zealand. His work demonstrates the importance of lesson sharing between governments (often learning from the mistakes of pioneers in carbon markets, such as the EU) to the design of functioning carbon markets.

His research - undertaken with colleagues from around the world - also stresses the importance of tailoring the way carbon markets are designed and negotiated to the political, economic and social circumstances of the individual countries in which they are introduced, and of understanding and managing the often-contentious politics of carbon markets.

Ian has recently contributed to a major book, Negotiating Climate Change in Crisis, which examines the challenges of decisive action on climate change and seeks to provide an affirmative set of ideas and agendas for bringing about radical changes in climate governance. Ian's contribution examines how national governments need to provide greater support for local net zero initiatives.

Read more about Ian's work: An Academic Spotlight on Professor Ian Bailey

“Carbon markets are among the most potentially potent and far-reaching ways governments can ensure the social and environmental costs of greenhouse-gas emissions are factored into business and consumption decisions. However, designing markets that provide strong and consistent price signals to drive investment in emissions reduction technologies and activities can be technically challenging and politically fraught, especially where emissions pricing is resisted by powerful interest groups and other political parties.”

Professor Ian Bailey

Ian is an advisory member of the Net-Zero Task Force, established by Devon County Council in 2019 to deliver the county’s roadmap to carbon neutrality. Its other members, including former SEI Director Professor Iain Stewart, is made up of environmental experts, community representatives and business leaders who are charged with ensuring resources are focussed on the most appropriate decarbonisation issues and identifying the most effective ways to engage with communities. Read more at www.devonclimateemergency.org.uk