How to finally reach a climate deal and settle our carbon debt!

What is it about?

Splitting climate negotiations into two separate blocks could both save time and make it more likely to ultimately reach a comprehensive treaty. The first block would deal with historical emissions of greenhouse gases including a mutual debt cancellation: developed countries carbon debts vs. developing countries conventional monetary debts. The second block would deal with future emissions and how to finance adaption to climate change. Following the polluter pays –principle, I argue that the funds should be collected in proportion to the responsibility for proceeding climate change and redistributed in proportion to the needs for adaption.

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Photo by Patrick Hendry on Unsplash

Photo by Patrick Hendry on Unsplash

Why is it important?

Considering the mutual indebtedness, developed countries carbon debts vs. developing countries conventional monetary debts, developing countries joining a global climate treaty should get their external debts cancelled. Such debt settlement would be a strong motivation for developing countries to join a climate treaty, and would also take away their strongest excuse not to participate in a climate treaty; their righteous appeal that the main reason for climate change is the historical greenhouse gas emissions of developed countries.

Perspectives