An Earth Atmospheric Trust:

A proposal to stop global warming and end poverty

1. Set up a global cap and trade system for greenhouse gas emissions – all greenhouse gas emissions from all sources.
2. Auction off all emission permits – and allow trading of permits.
3. Gradually reduce the cap to follow the 450 ppm target (or better). The price of permits will go up and total revenues will increase as the cap is reduced.
4. Deposit the revenues into a trust fund, managed by trustees appointed with long terms and a mandate to protect the asset (the climate and atmosphere).
5. Return a fraction of the revenues to everyone on earth on a per capita basis. This amount will be insignificant to the rich, and much smaller than their per capita contribution to the fund, but will be enough to lift all the world’s poor out of poverty.
6. Use the remainder of the revenues to enhance and restore the asset. They could be used to fund renewable energy projects, research and development on renewable energy, payments for ecosystem services such as carbon sequestration, etc.

Special features and cautions

• Do not allow revenues to go into the general fund of any government.

• Appoint trustees based on their qualifications and understanding of the purposes and details of the trust, not their political affiliations.

• Make all operations and transactions of the trust transparent by posting them open access on the internet.

• Make trustees accountable for their actions and decisions and subject to removal if they are not managing the trust for the benefit of the beneficiaries (all current and future people).