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André C. Presse and Falko Paetzold

Climate protection and economic prosperity often seem to be at opposite ends and discussed as if they are contradictory. This chapter endeavours to ask and answer the question: How can climate change prevention be reached without being harmful to the economy, and perhaps even fostering it? This question is analysed on a normative and conceptual level with direct implications for climate change prevention. The answers developed support the emergence of a global climate policy. This policy reflects the needs of ecological, entrepreneurial and economic as well as social sustainability. In essence, we suggest to auction emission rights globally and redistribute the proceeds per capita globally. The chapter also contains an exploration of how such payout can be administrated. We also propose to shift from emissions to ‘immission’ focus. Relocating the point of control upstream makes a global climate change policy more viable and the respective climate regime easier to enforce.