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| 1 |
ID:
188906
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| Summary/Abstract |
The prevailing issues in the Green Climate Fund on implementation and governance can be seen as symptoms of the ills of the international climate finance architecture. These are compounded by the inadequate financial support provided by developed countries to developing countries and the low volume of funding channelled to adaptation projects. Evidently, the cited issues highlight the need to fully integrate the principles of justice and equity into the global climate change regime. Thus, this policy brief discusses the key challenges related to climate finance, and outlines several options and considerations on improving the Green Climate Fund operations using a climate justice lens. This paper intends to take a more normative and ethical discussion on the topic of climate finance.
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| 2 |
ID:
188916
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| Summary/Abstract |
The prevailing issues in the Green Climate Fund on implementation and governance can be seen as symptoms of the ills of the international climate finance architecture. These are compounded by the inadequate financial support provided by developed countries to developing countries and the low volume of funding channelled to adaptation projects. Evidently, the cited issues highlight the need to fully integrate the principles of justice and equity into the global climate change regime. Thus, this policy brief discusses the key challenges related to climate finance, and outlines several options and considerations on improving the Green Climate Fund operations using a climate justice lens. This paper intends to take a more normative and ethical discussion on the topic of climate finance.
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| 3 |
ID:
169839
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| Summary/Abstract |
To date, global cooperation has not provided enough funds to counter climate change, as evidenced by the Green Climate Fund experience. Based on this fact, this document evaluates the revenue potential of an international tax on crude oil to finance programs to mitigate climate change. For this purpose, a dynamic, general equilibrium model for the world economy with two regions is proposed. One region is a net importer of oil, while the other is an exporter. In the model, oil exports are subject to a permanent per-barrel tax. Short- and long-run revenue projections are offered under alternative assumptions. Some exercises suggest that the resources generated from a $5 per-barrel tax on 25% of world oil exports would amount to $18.4 billion dollars in the initial year. To implement such policy at the international level, an “Oil and Climate Club” is proposed, where revenues from oil taxation would be allocated to funding environment-friendly programs. The paper includes a discussion on how to make the club's rules consistent with international trade laws.
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