A grand bargain for climate mitigation, adaptation and compensation
Per capita carbon consumption is vastly lower where most of the world’s most vulnerable live, yet the burden of climate change is projected to fall almost entirely on these countries.
We propose a bold new vision for international climate cooperation with a proposed accord that would provide unrestricted climate finance compensation from OECD countries to LMICs in exchange for the adoption of carbon pricing.
Those who
emit,
compensate
Every ton of carbon has a cost, and that cost can – and should – be returned to those who suffer most from its effects. We call this F.A.I.R.—Foreseeable, Automatic, Immediate, and Regular.
A possible, fair, and direct climate path.
FUNDS
ALLOCATED INTO
THREE PILLARS
In 2024, this would have cost $737 billion, much less than the full value of the mortality damages imposed by emissions.This is approximately 1% of the OECD GDP.
Pillar 1 / Individual transfers
Universal Basic Income (UBI) for all adults or Weather Triggered Basic Income (WTBI) in countries where damages owned are insufficient to fund a UBI.
Pillar 2 / Community block grants
Direct annual grants to communities, for repairs, protect households collectively, and to undertake protective investments.
Pillar 3 / Government insurances
Disaster insurance fund for countries for which access to market finance is most limiting, proportional to loss of lives.
The money should
come from those
who emit the most
Great fortunes, great profits,
massive emissions
With a small fraction of this concentrated wealth, we can change the course of the planet. It is not charity. It is about recognizing the damage, compensating for the impacts, and creating justice through cooperation.
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