Should centimillionaires bear (most of) the burden of international climate finance?
(2026) Climatic Change — Vol. 179, n° 2, p. 1-19 (2026)
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- (en) In the recent debate about who should provide international climate finance (ICF) to developing countries on concessional terms, some have argued that the ultra-rich should cover a significant proportion of the associated costs. This would apply regardless of the climate responsibilities or level of development of the countries in which the ultra-rich reside. In this article, I examine whether the rich-pay-for-ICF proposal aligns with any reasonable viewpoint on climate justice. To do so, I test the claim against a hybrid model of remedial responsibility for climate change that combines outcome responsibility and the ability to pay. I argue that the rich-pay-for-ICF proposal can be justified on normative grounds by distinguishing between the weighty and frivolous interests of emitters and investors, and by adopting a broad and objective view of equal sacrifice. Finally, I propose a global policy toolbox for implementing the rich-pay-for-ICF proposal in a manner consistent with the aforementioned hybrid model of responsibility.
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Corvino, F. (2026). Should centimillionaires bear (most of) the burden of international climate finance? Climatic Change, 179(2), 1-19. https://doi.org/10.1007/s10584-026-04107-6 (Original work published 2026)