The Compensation Fund for Climate Impacts

Sprinz, Detlef F.; Bünau, Steffen von
Journal article, Peer reviewed
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http://hdl.handle.net/11250/2465294
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2013
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Original version
Weather, Climate, and Society. 2013, 5 (4), 210-220.   10.1175/wcas-d-12-00010.1
Abstract
Climate change is very likely to lead to undesirable climate impacts. How to compensate for such negative impacts at the international level has, hitherto, received little attention. This article reviews the most frequently discussed grounds for legal obligations of states vis-a-vis climate impacts (damages) and concludes that no convincing mechanism has yet been found to compensate climate impacts. The authors outline an architecture for a voluntary, international compensation fund with specialized, independent climate courts. Subsequently, this article addresses three strategic considerations related to the fund, namely, the incentives for founding it, the merits of double proportionality with respect to contributions and payments, as well as the benefits of employing prediction markets to enhance trustworthiness
Journal
Weather, Climate, and Society
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© Copyright 23 July 2013 American Meteorological Society (AMS). Permission to use figures, tables, and brief excerpts from this work in scientific and educational works is hereby granted provided that the source is acknowledged. Any use of material in this work that is determined to be “fair use” under Section 107 of the U.S. Copyright Act or that satisfies the conditions specified in Section 108 of the U.S. Copyright Act (17 USC §108) does not require the AMS’s permission. Republication, systematic reproduction, posting in electronic form, such as on a website or in a searchable database, or other uses of this material, except as exempted by the above statement, requires written permission or a license from the AMS. All AMS journals and monograph publications are registered with the Copyright Clearance Center (http://www.copyright.com). Questions about permission to use materials for which AMS holds the copyright can also be directed to the AMS Permissions Officer at permissions@ametsoc.org. Additional details are provided in the AMS Copyright Policy statement, available on the AMS website (http://www.ametsoc.org/CopyrightInformation).