Without environmental sustainability, economic stability and social cohesion cannot be achieved. Discuss!

The Federal Environmental Management Agency (FEMA) uses the Command and Control System of managing pollution. Discuss the challenges of implementing "Command and Control" policies in developing countries giving suitable examples.

Left to its own devices, a free-market economy will not result in the level of environmental quality that people want.  Firms pollute, and people make expenditures without concern for environmental consequences.  We need some level of government intervention to ensure those decisions take account of other people’s concerns.  However, regulation cost tax dollars and is an infringement of liberty. How can we determine how much environmental quality we want and what is the best way of getting it?

What are the types of market failures that occur in the case of addressing climate change, explain!