Climate Justice and Environmental Economics: Equity Considerations in Global Climate Policy

Abstract

Climate change presents an existential threat with far-reaching environmental, social, and economic consequences. As the world grapples with mitigation and adaptation, equity remains a central concern in formulating global climate policies. The discourse around climate justice emphasizes the disproportionate burden faced by developing nations and marginalized communities, which have contributed least to global greenhouse gas emissions. This paper explores the interplay between environmental economics and climate justice, analyzing how global climate policies can be made more equitable. By evaluating international climate agreements, emission responsibilities, and financial mechanisms through the lens of environmental justice, the research identifies persistent gaps and proposes inclusive strategies. Empirical data from carbon emissions, income inequality indices, and climate vulnerability assessments are used to assess the effectiveness of current global frameworks in addressing distributive and procedural justice. The findings underscore the need for policy mechanisms that integrate ethical considerations with economic instruments to achieve sustainable and fair climate outcomes.