4 August 2026 - Last week, Professor Thomas Piketty of the Paris School of Economics presented the recently released Global Justice Report at a webinar hosted by the ±¬ÁÏÍø DESA Division for Inclusive Social Development. Produced by the World Inequality Lab, the report lays out an ambitious, quantified roadmap to simultaneously achieve equality, environmental sustainability and human wellbeing by 2100.
It makes the case that climate action, social justice and economic prosperity should not be pursued separately but as mutually reinforcing objectives.
Piketty emphasized the need for a profound transformation of our current economic model, resting on three pillars. The first is rapid decarbonization to limit global warming to around 1.8¡ãC (against over 4¡ãC in current conditions). The second is a shift towards sufficiency, including shorter working hours and lower material consumption. And third would be a drastic reduction in inequalities of income, wealth and power both as an ethical objective and as a political and financial condition for achieving the other two goals.
In this "sustainable convergence" scenario, all countries would reach a Gross National Disposable Income of approximately €5,000 per person per month by 2100¡ªroughly the income level of today's wealthiest nations. Piketty asserted this goal is both achievable and necessary if future economic development is to remain compatible with planetary limits.
Under the proposed pathway, most economic growth would occur in lower-income countries, helping narrow global income gaps. In higher-income countries, slower productivity growth would be partly offset by shorter working hours. Piketty argued that reduced working time could also promote gender equality by supporting a more balanced distribution of paid and unpaid labour.
Central to the proposal is the creation of a Global Justice Fund financed through a global income and wealth tax. The Fund would finance investments in climate mitigation, education, health and equitable development, with resources allocated under common global rules and democratic governance. Over time, investment returns from a global sovereign fund would progressively replace tax revenues as the main source of financing.
Piketty acknowledged that implementing such sweeping reforms would face significant political obstacles, particularly regarding new taxes and efforts to curb elite influence. Yet he noted that extraordinary fiscal measures have historical precedents, such as during the reconstruction period following World War II. He emphasized that meaningful progress would depend on both sustained public engagement and political will.
Looking ahead, Piketty predicted that demands for both economic justice and climate justice will intensify, especially in developing countries. While future crises may take different forms, ranging potentially from environmental disasters to resource conflicts, he stressed that policymakers should begin preparing frameworks for global cooperation now. He argued that consensus among a sufficiently large coalition of willing countries could generate enough momentum to create pressure for wider participation over time.
Watch the webinar .