The Themis Mechanism for Climate Cooperation

This document is a technical report that discusses the structural failures of current international climate agreements, particularly emphasizing the inadequacies of the Paris Agreement. It argues that these frameworks rely on unilateral voluntary pledges, which do not foster genuine cooperation among nations. The report outlines the requirements for effective climate cooperation, which include binding commitments, mutual trust, transparency, reciprocity, and enforceable sanctions. It introduces Themis, a proposed mechanism designed to meet these requirements by aligning individual and collective incentives. Themis advocates for a common commitment approach to carbon pricing, which is essential for addressing the unpriced externality of greenhouse gas emissions. The report details the four foundational elements of Themis: recognizing the atmosphere as a shared resource, pricing emissions, acting with urgency, and balancing fairness with benefit. It concludes by highlighting the necessity of immediate annual commitments to build mutual trust and facilitate effective climate action.