Pay the Global South for climate damage, but only if it prices carbon, says economist Greenstone

Michael Greenstone, an economist, suggests that countries in the Global South should be compensated for climate-related damage, but only if they implement policies that price carbon emissions. This means that countries would need to establish a system to charge companies for the pollution they produce, which would help to reduce greenhouse gas emissions. If implemented, this could lead to a more equitable distribution of the costs and benefits of climate change, potentially benefiting the economy by promoting sustainable practices.

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The economist's statement introduces conditions for climate damage payments. The parameters of such agreements are still being negotiated, which affects the outcome.

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