Pricing Carbon for Climate Justice

This paper focuses on one particular case that connects climate justice and climate economics. Its contribution is twofold. First, it aims at providing a sound normative foundation for carbon pricing mechanisms around the notions of a ‘right to energy’, the ‘duty not-to-harm’ and an argument for ‘restricted compensation’. Second, it identifies the normative elements from theories of climate justice that should guide the design of market-based instruments for climate change mitigation. This will cast light on the particular moral relevance of the act of internalizing a negative externality and of the funds generated by putting a price on carbon.