I think centralized systems are failing for a variety of reasons. I hope they continue to fail, because all of them have grown so large and ossified, they are only self-interested.

I bristle to think of the political class enacting their idea of climate policy. It would almost certainly be an authoritarian cudgel used to beat in the heads of individuals, to the benefit of politically connected interests and the continued harm of the climate. All of this would be done in the hallowed name of environmentalism - an evil done to us "for our own good" as C.S. Lewis warns about in this quote:

“Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.”

The solution is to radically decentralize these fragile, self-interested systems in favor of less powerful, more mutable/agile institutions that aren't serving their own hegemony as their first 10 policy goals.