HES: QUERY--Sidgwick on selling improvements to climate

[Axel Gosseries]

Dear colleagues,

in 1883, Sidgwick wrote:

« So, again, if it is economically advantageous 
to a nation to keep up forests, on account of 
their beneficial effects in moderating and 
equalising rainfall, the advantage is one which 
private enterprise has no tendency to provide ; 
since no one could appropriate and sell 
improvements to climate » Henry Sidgwick, The 
Principles of Political Economy
p. 406, 3d. ed 1901, 1st Ed 1883

I was wondering what the main reason would be why 
Sidgwick did not see that improvements to climate 
could actually be sold (through a tradable quotas 
scheme). Any suggestions?

Many thanks in advance,
Yours sincerely,

Axel Gosseries