Economics for Rebels
Should countries pay for their climate debt?
Nov 15, 2023
Andrew Fanning and Jason Hickel discuss climate reparation payments and inequalities in carbon emissions. They explore quantifying compensation for decarbonization, philosophical aspects of climate debt, overpopulation and overconsumption debate, and rebellion against current economic views. The podcast challenges traditional economic perspectives for just and sustainable transformations in the climate crisis.
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Quick takeaways
- Over-emitting countries owe nearly $200 trillion in compensation for excess emissions by 2050.
- A population-based approach highlights significant disparities in emissions, offering insights into addressing carbon emissions equitably.
Deep dives
Quantifying Compensation Owed for Atmospheric Appropriation
Countries need to address compensation owed for atmospheric appropriation assuming a decarbonized world by 2050. The study calculates the level of compensation owed, revealing that the global North would appropriate half of the global South's share. Top historical emitters include the United States, Russia, Germany, Japan, and the United Kingdom. The study uses a population-based approach to allocate fair shares of the carbon budget across countries, highlighting the significant disparities in emissions.
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