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Figure 2: Payoffs for the climate strategy game with social preferences. Developed Abate No Change Best Good Abate Best Worst Developing Worst Bad No Change Good BadCLIMATE CHANGE AND THE SWITCH TO CLEAN ENERGY PART A Carbon dioxide levels in the atmosphere today are higher than at any point in at least the past 800,000 years. The risks associated with the resultant climatic change have been well documented. We can model the problem of climate change as a game between two groups: developing nations and developed nations. In this game, each group can choose from one of two possible climate strategies: . Abate: governments enact policies to reduce carbon emissions, for example, by subsidising clean energies or taxing fossil fuels. . No change: governments fail to enact policies to reduce carbon emissions. Businesses and individuals are free to pursue their own self-interest. The outcomes and payoffs of this game are shown in Figure 1 below. Figure 1: Outcomes and payoffs for the climate strategy game. Developed Developed Abate No Change Abate No Change Developed countries reductions the free rice on Good Best Abate successfuly developing Abate moderates climate courtnes emissions change reductors Good Worst Developing Developing Worst Bad nice on developed No emissions No Change No Change countries emissions Best Bad reducior