Financing measures counteracting climate change seems to be a clear constitutional imperative. The global annual investment gap for climate change mitigation is estimated at the level of $380-680 trillion with further $60-100 trillion investments into climate change adaptation. The scale of the investment challenge seems to be clearly beyond the capacity of the public sector alone. But even this part of financing that the public sector will have to carry will pose vast amounts. Further fiscal rules might be breached if one looks into current debt levels and the new amounts needed to counteract climate change. This opens discussions with constitutional dilemmas regarding accruing that much new public debt, e.g., is there a limit in burdening future generations? Or is our toolbox appropriate in this regard? The paper intends to identify some of those dilemmas, continue dialogue on financing climate action, and enrich it with constitutional perspectives.
We look forward to welcoming you on July 3-5, 2023 for our Annual Conference entitled "Islands and Ocean: Public Law in a Plural World." The conference will take place at the Victoria University of Wellington, in New Zealand. We will be announcing more details about the conference soon, including financial support to early career and global south scholars!