#2346. Long-Term Climate Treaties with a Refunding Club

October 2026publication date
Proposal available till 30-05-2025
4 total number of authors per manuscript6100 $

The title of the journal is available only for the authors who have already paid for
Journal’s subject area:
Economics and Econometrics;
Management, Monitoring, Policy and Law;
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Abstract:
We show that an appropriately-designed “Refunding Club” can simultaneously solve both free-riding problems in mitigating climate change—participating in a coalition with an emission reduction target and enduring voluntary compliance with the target once the coalition has been formed. Countries in the Club pay an initial fee into a fund that is invested in assets. In each period, part of the fund is distributed among the Club members in relation to the emission reductions they have achieved, suitably rescaled by a weighting factor. We show that an appropriate refunding scheme can implement any feasible abatement path a Club wants to implement.
Keywords:
Climate change mitigation; International agreements; Refunding club; Sustainable climate treaty

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