We propose a development-compatible refunding system designed to mitigate climate change. Industrial countries pay an initial fee into a global fund. Each country chooses its national carbon tax. Part of the global fund is refunded to developing and industrial countries, in proportion to the...

This paper builds on the assumption that OECD countries are (or will soon be) taking actions to reduce their greenhouse gas emissions. These actions, however, will not be sufficient to control global warming, unless developing countries also get involved in the cooperative effort to reduce GHG...

In the last two decades increasing attention has been paid to the relationship between environmental degradation and economic development. According to the Environmental Kuznets Curve (EKC) hypothesis this relationship may be described by an inverted-U curve. However, recent evidence rejects the...

Firms and entrepreneurs of all types - from microenterprises to multinationals - play a central role in growth and poverty reduction. Their investment decisions drive job creation, the availability and affordability of goods and services for consumers, and the tax revenues governments can draw...

This report provides actionable advice on how to design and implement fiscal policies for both development and climate action. Building on more than two decades of research in development and environmental economics, it argues that well-designed environmental tax reforms are especially valuable...

This report analyses options to make international public climate finance more transformative. The report identifies eight sets of levers to drive climate action: project-based investments, financial sector reform, fiscal policy, sectoral policies, trade policy, innovation and technology...

This retrospective examines how the World Bank's strategic use of climate-related trust funds has enabled it to play an outsized role in catalyzing climate action worldwide for nearly 30 years. By looking back at the history of climate and carbon finance, with a focus on the pioneering role of...

This paper uses simple analytical models to study high-income donor countries' willingness to pay to supply mitigation finance to low-income countries; how this depends on modality for finance supply; and how it changes as the global greenhouse gas mitigation agenda moves forward. The paper...