A new column from CEPR examines how the world's remaining carbon budget could be allocated fairly using the principle of equal cumulative emissions per person. The authors use historical data from 1870 onward to show that European states have already consumed more than their fair share of the atmosphere, while many developing countries still have positive claims left. The piece argues that a fair allocation of the remaining budget can support development goals if developing countries get access to cleaner technologies. The column points to Europe's Carbon Border Adjustment Mechanism as a concrete policy that could embed fairness principles. The idea is that redesigning CBAM to account for historical responsibility could make it a tool for climate justice rather than just trade protection. For anyone following carbon markets or climate policy, this is a useful look at how fairness metrics might actually be applied to real world mechanisms like CBAM.
