If reparations are compensation for costs due to CO2 emissions, high-emission countries might themselves be owed something because of the clear benefits of the CO2 they have been generating.
By Steve Ambler ,Financial Post, Nov 29, 2022
The recent COP27 climate meeting in Sharm el-sheikh floated the idea of reparations for climate change: developed countries would pay poorer countries for their losses from it. The economic argument for reparations is simple. CO2 emissions are causing warming. This involves an indirect cost that has no market price, an “externality” in economists’ terms. This externality should be compensated.
There is just one small problem, however.… Read more