1. 1 Climate Stability Bonds Ronnie Horesh

2. 2 Climate Stability Bonds Goal: “climate stability” at minimum cost

3. 3 Climate Stability Bonds Redeemable for guaranteed price when climate stability has been achieved.

4. 4 Climate Stability Bonds Backed by governments Do not bear interest Example: bond redeemable for $1m once climate is stable Auctioned for $100 000 Bondholders make 900% profit if they hold bond till redemption

5. 5 Climate Stability Bonds Prices vary with likelihood of climate stabilising If nobody buys bonds, their price falls Eventually it becomes profitable for people to buy and help stabilise the climate

6. 6 Climate Stability Bonds Bondholders have incentives to: Co-operate with each other Finance climate-stabilising projects Pay according to performance

7. 7 Climate Stability Bonds Main advantages Efficiency: cascading incentives to achieve target efficiently Outcome-focused: deals with scientific uncertainty

8. 8 Climate Stability Bonds More advantages... Transparency and consensus Better money flows Pricing displays vital information

9. 9 Climate Stability Bonds Governments set goal Private sector achieves goal Governments ultimately pay for achievement

10. 10 Climate Stability Bonds http://SocialGoals.com Ronnie@SocialGoals.com