Traffic congestion, air pollution, accidents – the negative externalities from car transport are not just a popular field of economic research, but also a daily arduous reality for millions of commuters around the world. However, there is more: carbon emissions and climate change may be a less visible externality from road transport, but the economic and social costs will be substantial and borne at a global scale.
When dealing with such externalities, pricing instruments (such as carbon or fuel taxes) are the policy response favored by economists: if car users paid the full cost of driving, they would adjust their driving practices and thus reduce the negative environmental and social impacts.
This week, the transition to a green economy and other critical environmental issues are taking centre stage at the inaugural session of the United Nations Environment Assembly (UNEA). UNEA is forging new ground by emphasising that environmental concerns are at the core of governmental agendas.
What is UNEA?
Leading government officials are convening at the first meeting of UNEA in Nairobi, Kenya at the United Nations Environment Programme (UNEP) headquarters . UNEA is arguably the world’s most important platform for environmental policy-making, with over 1,200 participants, including environment ministers, government delegates and representatives of civil society in attendance.
UNEA aims to raise awareness of the role of environmental governance as an indispensable tool in sustainable development and the creation of a green economy.
