Climate change is an emergency largely because of how it is experienced by people, and the extreme losses and hardships that many are suffering as a result. Economic justice is therefore a key aspect of climate justice: activists demand reparations from the countries, companies and people that have caused the crisis, and redistribution of wealth and income to ensure that the green transition is just and equitable.
The 'share' aspect of our cap and share proposal aims to respond to these demands. Once money has been collected as licence fees from fossil fuel companies, and then invested in a global Green New Deal via our people-owned fund, several trillion dollars will be available every year. This money would be shared with the people of the world in two ways.
Firstly, a climate grants fund of at least $1 trillion per year would be established, to provide reparations to the Most Affected People and Areas (MAPA) in the form of community and project grants. This ensures that climate funding for these communities is provided as grants, not loans, and would enable people to choose and develop the infrastructure and services that they most need in the face of the crisis.
The rest of the money would be redistributed directly to the global grassroots, via a monthly cash dividend to every adult and child in the world (or to people in participating countries, when the system is applied by a few countries or regions acting together). These dividends would provide basic income security for people everywhere, end extreme income poverty permanently, and significantly reduce global inequality.
To find out more about how climate grants and carbon dividends could support global economic justice, see our paper, 'Climate Justice Without Borders: Cap and share as a mitigation and climate finance solution'.
The 'share' aspect of our cap and share proposal aims to respond to these demands. Once money has been collected as licence fees from fossil fuel companies, and then invested in a global Green New Deal via our people-owned fund, several trillion dollars will be available every year. This money would be shared with the people of the world in two ways.
Firstly, a climate grants fund of at least $1 trillion per year would be established, to provide reparations to the Most Affected People and Areas (MAPA) in the form of community and project grants. This ensures that climate funding for these communities is provided as grants, not loans, and would enable people to choose and develop the infrastructure and services that they most need in the face of the crisis.
The rest of the money would be redistributed directly to the global grassroots, via a monthly cash dividend to every adult and child in the world (or to people in participating countries, when the system is applied by a few countries or regions acting together). These dividends would provide basic income security for people everywhere, end extreme income poverty permanently, and significantly reduce global inequality.
To find out more about how climate grants and carbon dividends could support global economic justice, see our paper, 'Climate Justice Without Borders: Cap and share as a mitigation and climate finance solution'.