Many of the most economically efficient policies to reduce emissions, such as carbon pricing, have proven difficult to implement. In this episode of Development Futures, the Lowy Institute’s Indo-Pacific Development Centre Research Fellow Michelle Lyons speaks with Professor David Victor from UC San Diego on how to make climate policy work and ways to accelerate decarbonisation of the global economy. Their discussion includes the roles of carbon and offset markets in addressing climate change, opportunities for Australia and Pacific Island countries to accelerate climate action if their bid to co-host the 2026 UNFCCC Conference of the Parties is successful, and the importance of enhancing national institutional capacity when seeking to mitigate and adapt to climate change. See omnystudio.com/listener for privacy information.