We propose a new climate policy that is efficient, robust, and asks for payments proportional to realized climate damage. In each period, countries are made liable for their share of the responsibility in the current damage. Efficiency follows from countries' anticipations of climate change,...

Due to meteorological factors, the distribution of the environmental damage due to climate change bears no relationship to that of global emissions. We argue in favor of offsetting this discrepancy, and propose a “global insurance scheme” to be financed according to countries’...

Due to meteorological factors, the distribution of the environmental damage due to climate change bears no relationship to that of global emissions. We argue in favor of offsetting this discrepancy, and propose a “global insurance scheme” to be financed according to countries’...