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I watched Elon Musk talk in Paris and apparently he concurs with Bill Gates: unless Governments mandate and enforce carbon emissions, the markets will not be able to have the effects needed to delay and reverse global warming.
Yes that would be ideal, but in the US at least even a revenue neutral carbon tax will not happen in the current US Congress because far too many of its members do not believe that human activities are causing climate change.
The only free market solution to 'tragedy of the commons' is to privatize the commons. Not really sure how you privatize the atmosphere... and then it really would no longer be 'the commons' would it?