9. Conclusion

The Earth’s complex system is being subjected to ever more stress from the effects of economic and population growth and the accompanying changes in natural resource consumption, land and marine use, lifestyle, and so on. The ability of markets to respond to meet the challenges of environmental risk mitigation and the reducing the anthropogenic sources of it is yet to be proven. Signs of the ability of markets to mitigate environmental risk are evident in battery and energy supply and storage technology (B|ESST) and other clean energy technology (CET) markets. Environmental risk mitigating markets are emerging and are being coaxed by a combination of research and development (R&D), much of it business R&D, government policies to decarbonize the economy, in particular, the energy system and consumer demand for it. A major impediment is an insufficient financial market rationale for environmental risk mitigation. Channeling funds to curb emissions and adapt to global warming is one of the thorniest challenges in the fight against climate change. This points to the deeper inertia of how environmental risk is perceived and how measures taken to mitigate or reduce it are valued. Market coaxing in this regard continues to be crucially important and needs to be comprehensive, in terms of its interrelated economic, environmental, and societal components.