Institutions for a World of Climate Injustice
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We live in a world of climate injustice. People in wealthy countries emit large amounts of greenhouse gasses, whose effects will be particularly adverse to people in poor countries who have not received the benefits of past emissions. Although these injustices are deeply embedded in power asymmetries, they could be ameliorated if wealthy societies were to take broad views of their own self-interests. To do so would require, in some instances, changes in the default rules, embedded in sovereignty, that have inhibited positive changes. To ensure that such positive changes ensue will require new and well-designed institutions, two of which are proposed. An Institute for Climate Finance would facilitate offset arrangements by which rich countries pay for emissions reductions in poorer countries. An Institute for Climate Innovation would facilitate the transfer of innovative low- or zero-emission energy technology to developing countries.