Towards corporate governance of sustainability: Climate justice transfers and a behavioral Green New Deal

This paper first addresses climate justice based on climate gains and losses redistribution to introduce the potential of the Green New Deal to steer positive change and action beyond the precautionary approach. The Mapping Climate Justice proposes a three-dimensional climate justice approach to share economic benefits and the burden of climate change right, just, and fair around the globe. Scientific data is grounded by ethical imperatives that argue for a pre-precautionary principle based on Rawls’ veil of ignorance and Kant’s categorical imperative. Empirically, gross domestic product (GDP) gains and losses of a warming globe are captured to be distributed unequally around the world. Macroeconomic modeling highlights the disparate impact of climate change around the world. As a recommendation based on the inequality inherent in global warming, the ethical climatorial imperative demands an equalization of the gains of climate change around the globe to offset losses incurred due to climate change. This ethical mandate leads to a description of strategies on how to breed climate equity within society, around the world, and over time. Recommendations are aimed at ensuring to share the burden but also the benefits of climate change within society in an economically efficient, legally equitable, and practically feasible way now and also between generations.