THBT governments should spend an overwhelming majority of their climate change budget on pay-for-success bonds
In the status quo, governments typically allocate their climate change budget on energy incentives (e.g. tax breaks for green energy, carbon taxes) and some public investment projects. Pay-for-success bonds are a way for governments to finance social projects by contracting private third-parties. These private third-parties (e.g. companies) only get paid once they successfully complete the project.