Max Townsend

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Max Townsend
Posted over 3 years ago
Is a market based solution suitable to save the River Kennet, in Marlborough, Wiltshire, UK?
Maybe some kind of market mechanism involving tradable permits, such as that used in carbon emissions schemes could be effective? Until an incentive scheme exists, companies won't take action. Regulation is not an approach that will return long term benefits, as there is no incentive to search for a greener, cleaner approach that will REPLENISH the river. Internalising the externality is only half the battle, the authorities should be a little more creative and seek a solution that incentivises both households and companies to not only reduce consumption, but replenish sources. It's not enough to put a brick in the cistern!