needs to be scaled up to US$250 to 550 billion per year," says IIASA Energy, Climate, and Environment Program Director Keywan Riahi, one of the coauthors of the study.
"Previous work has focused on fair global carbon budget–sharing schemes, but few focus on equity considerations in the financing of mitigation investments," says Shonali Pachauri, IIASA Transformative Institutional and Social Solutions Research Group Leader and study lead author. Investing in mitigation actions in low-income regions is not only important from an ethical point of view, but as the authors explain, it can be a productive use of capital.
"We are in the acceleration phase of a range of mitigation technologies. If we are to deploy them at the speed required for our climate targets, we have to make sure that they also happen at scale in poorer regions of the world," says Christoph Bertram, a researcher at the Potsdam Institute for Climate Impact Research and a study coauthor.
The researchers found that flows from North America and Europe to other regions would have to increase substantially relative to present levels to meet the Paris Agreement goals under most equity considerations. They estimated that the financial flow required under the selected
IIASAVienna ScienceMagazine omg... so... like the 'planet' and the 'people' are the f'n equity! That little $ is outdated middleman bs, costing us all too much time and resource to budget out f'n nonsense. Wake me up when people drop the problem they keep fumbling over, while capitalizing consumption 🤣🤑🤦♀️