Fausto Corvino

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 ...

This article focuses on the climate change policies that are needed to reduce the greenhouse gas emissions of the ultra-rich, primarily from superyachts, private jets, mega-mansions, and high-emission road vehicles. These are all goods for which demand is inelastic and therefore difficult to curb with Pigouvian policies. The article proposes a comparative analysis of the three main luxury-focused mitigation policies discussed in the literature: bans, luxury carbon taxation and ...

COP29 was supposed to hold developed countries to their climate justice responsibilities by committing them to an annual transfer of concess