This Article examines how private governance can bypass government gridlock on climate change and buy time for a national and international carbon price. A carbon price – whether in the form of a carbon tax or a cap-and-trade program – is the optimal government response but is unlikely to be...

This Essay argues for consideration of political opportunity costs in the criteria used to evaluate climate policy instruments. Law and policy debates typically evaluate policy instruments by their expected performance after adoption, tacitly excluding consideration of the timing of adoption....