Climate Wealth of Nations

Abstract

A 3-dimensional climate justice approach introduces to share the benefits and burden of climate change in an economically efficient, legally equitable and practically feasible way around the globe. Climate justice within a country pays tribute to low and high-income households carrying the same burden proportional to their dispensable income through consumption tax, progressive carbon taxation and a corporate inheritance tax. Climate change burden-sharing between countries ensures those countries benefiting more from a warmer environment bear higher responsibility regarding climate change mitigation and adaptation. Climate justice over time is proposed by an innovative bonds climate change burden sharing strategy (Puaschunder, 2018, forthcoming).