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Institutions For Future Generations$
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Iñigo González-Ricoy and Axel Gosseries

Print publication date: 2016

Print ISBN-13: 9780198746959

Published to Oxford Scholarship Online: January 2017

DOI: 10.1093/acprof:oso/9780198746959.001.0001

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A Common Heritage Fund for Future Generations

A Common Heritage Fund for Future Generations

Chapter:
(p.197) 12 A Common Heritage Fund for Future Generations
Source:
Institutions For Future Generations
Author(s):

Marcel Szabó

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198746959.003.0012

The chapter reconsiders the idea of the Common Heritage Fund (CHF) to be established as an efficient international law structure for the promotion of intra- and intergenerational justice. Through the description and analysis of previous international attempts aimed at preserving the living conditions for future generations, this proposal seeks to learn from and eliminate the weaknesses of the previous attempts, to describe a solution that may serve as a realistic guarantee for both developing and industrialized states. The chapter outlines the operation of the proposed CHF, including sources of the fund’s assets, allocation of the fund’s reserves and the voting structure of the fund. The chapter then turns to the challenges of the implementation of the proposal as a new international legal instrument and concludes by advocating the timeliness of its establishment.

Keywords:   Common Heritage Fund, future generations, intragenerational justice, intergenerational solidarity, common heritage of mankind, common concern of humanity, biodiversity, ecological services

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