Governments both in Australia and abroad are showing increasing interest in facilitating growth in the adaptation services market to help communities to prepare for and respond to the impacts of climate change. This review appraises evidence of the effectiveness and efficiency of these markets and the role that governments play in their establishment and operation. We found that the majority of empirical work on climate service markets concentrates on demand related aspects, such as user preferences, and less on the supply and policy aspects of the market. We propose that this stems from an assumption that by increasing demand, suppliers will follow. As climate service markets are generally policy-based imperatives, they do not emerge according to conventional market rules, and act more like a quasi-market or public service market. We suggest that, due to the normative goals of climate service markets to aid climate change adaptation, governments would do well to steward these markets into more robust systems. We conclude by recalling that the exchange of climate service information is not limited to market arrangements, and that government’s choice to use markets to help exchange climate service data is another example of the legacy of new public management paradigms as we shift into a new public governance era.
SOURCE: Malbon, E. Craven, L. “Marketisation of Climate Change Services.” ANZSOG, Volume 2019, Issue 1, Pages 15-24, Sept. 2019.
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