Academicians unveil new plan to tackle inequality, climate change
Academicians unveil new plan to tackle inequality, climate change
A new global report from the World Inequality Lab (WIL) outlines a bold vision for planetary survival.
The report, titled "Global Justice Report," seeks to tackle climate change, political extremism, and economic tensions.
It proposes measures like wealth taxes on billionaires and reducing working hours to keep global heating below 2°C by 2100.
The authors envision that these steps could double the incomes of 89% of the world's population by century's end.
The report's vision for a sustainable future
The report takes on mainstream approaches to the polycrisis, which incorporate inequality and climate science. It calls for a political coalition to reform global financial architecture.
The authors advocate for "sufficiency," living a prosperous life without excessive consumption that harms nature.
They propose more than halving average working time, reducing red meat consumption, and shifting investment toward education and healthcare.
Projected temperature rises under the report's plan
The report's vision seeks to cut emissions close to zero and reduce inequality. It projects global temperature rises of 1.8°C by century's end under its most ambitious plan.
A global justice fund would finance energy transition and increase education/healthcare spending to 38% of world GDP by then, up from 13% today.
The authors acknowledge their vision maybe utopian, but believe it shows other paths are possible while staying within carbon budgets.
Addressing inequality and planetary habitability together
Thomas Piketty, a co-director of WIL, pointed out that countries like Sweden and Norway have reduced inequality through government policies.
He emphasized addressing inequality and planetary habitability together to avoid repeating past mistakes, such as the yellow vest protests in France over carbon taxes impacting working-class people more than the rich.
World Inequality Conference in Paris
The report will be discussed at the World Inequality Conference in Paris from June 4-6.
Speakers include prominent economists and thinkers such as Ha-Joon Chang, Jean Dreze, Jayati Ghosh, Mariana Mazzucato, Branko Milanovic, Lea Ypi, and Gabriel Zucman.
Jason Hickel of the Autonomous University of Barcelona called it an "important and timely intervention" that requires organized political struggle to achieve good lives for all within planetary boundaries.