A development-based approach to global climate policy

A common approach for addressing climate change is to reduce the cost of greenhouse gas mitigation through market-based mechanisms, which enable an economically efficient allocation of emissions. However, from a human development perspective, a market-based approach to emission allocation might not be appropriate, considering the value it places on social well-being. This research builds on previous empirical work to develop a framework for conceptualizing the relationship between carbon dioxide (CO₂) emissions and human development using the capability approach. The framework enables a critical examination of policy prescriptions that employ market-based methods for emission allocation due to their potential for unintended consequences for underdeveloped nations. Lastly, we offer a theoretical policy proposal aimed at preventing unintended human development consequences.