Matthew Kahn

Climate Policy Is Shifting From Net-Zero Mandates to Market-Led Adaptation

At a Hoover Institution session on climate policy, Steven Koonin argued that the net-zero mitigation agenda has failed to cut global fossil-fuel dependence and has overstated the evidence for catastrophe. Koonin, Matthew Kahn, Terry Anderson and other participants made the case for shifting attention toward adaptation: local, incremental responses shaped by insurance, real estate, migration, finance and property rights. Their shared claim was not that climate change is unreal, but that better information and market prices may guide resilience more effectively than mandates, subsidies and apocalyptic politics.