The Australian government is considering reforms to Safeguard Mechanism. This article on The Guardian Safeguard mechanism: what is it, will it cut emissions and what role do carbon offsets play? Ex describes some the mechanism including some of its contentious aspect. The Safeguard Mechanism aims to reduce carbon emissions by [ Select ] . Which of the following market failures best justify such aim? [ Select ] FYI. After we prepared the News Analysis, there has been some progress on the negotiations between the Labor and Greens parties Ex, as well as some sharp criticism from one of my favourite journalists, Ross Gittins Ex. Just linking these last two articles in case you are interested, but you don't have to read them for the assessment. In this question, only the part above the dashed line is for assessment. This paragraph in Italic is just FYI