Ideas to Action:

Independent research for global prosperity

CGD Policy Blogs

 

An image of carbon dioxide smokestacks.

Is $100 Billion a Year Enough to Cover the Cost of Climate Damage?

A central commitment of action on climate is the promise of “developed countries” to jointly mobilize $100 billion of climate finance per year by 2020 (and through to 2025). How does this promise—which developed countries have so far failed to reach—compare to the actual cost of the damage caused by their emissions? Today we publish a paper that answers that question by estimating the liability each country bears for the costs of damage caused by carbon emissions to date. We limit this liability with two assumptions. First, we only count damage from when international awareness of climate issues grew. Second, we reduce the cost applied to older emissions. These limitations are arguably conservative—and we consider other scenarios in the paper.

An image of carbon dioxide smokestacks.

Germany: Five Areas for COP and G7 Climate and Development Leadership

Recent extreme weather events in the US, Canada, Europe and beyond have shown the high-income countries how vulnerable it is to climate change—a feeling that lower- and middle-income countries have known for years. Germany’s actions over the past decade on climate finance have established it as a leader with climate negotiations and commitments on climate finance at a critical moment.

Chart showing carbon price for each CDI countries. Sweden, Norway, and Finland lead, while the US, China, Mexico, South Africa, and others bring up the rear

Assessing International Environmental Leadership: CDI 2021

Today, we publish the 2021 Commitment to Development Index (CDI), which tracks powerful countries’ policy efforts on development across eight important areas, from development finance to migration. One of the CDI’s focal areas is the environment, which matters for everyone but is especially critical to people in lower-income countries. In a key year for climate negotiations, the CDI can tell us which countries are doing well on policies to protect the environment and which have room for improvement.