Imagine if the people of the future living in a trashed world could travel back in time and pay us to do something now. How much would they be willing to pay? Probably far more than it would cost to fix. All they would need to do is invent a time machine and they could come back to now, pay us to fix the problems, and they get to live in an intact world.
Given we haven’t had too many visitors from the future flashing the Benjamins around, time machines are likely impossible. We do however have a magic way of allowing the future to pay for actions now as long as we act on their behalf. This magic is called long-term zero-coupon bonds [0]. The idea is we issue a whole lot of zero coupon bonds due in 50 years (or more), use the money to decarbonise the economy and pay off the owners of all the carbon, and the leave it to the future to pay the debt with an intact world.
I gave a talk on this idea a bit over 10 years ago which I have up on my blog if anyone is interested [1].
0. https://en.wikipedia.org/wiki/Zero-coupon_bond
1. https://www.tillett.info/2015/12/13/preventing-global-climat...