"Planetary Condominium: the legal framework for the Common Home of Humanity"
The idea is to scale the legal model of condominiums (a type of mixed private and collective cooperative ownership) to global level:
Inspired by the thoughts of Garrett Hardin and Elinor Ostrom the submission proposes to legally recognize the Earth System as Natural Intangible Common Heritage of Humankind and scale-up the legal model of condominiums to the global level: A condominium is an object with a unitary structure and common functional systems, with private rights for determined fractions and, simultaneously, common ownership and governance for common structures and functions. Different legal regimes would be able to coexist. A revived UN Trusteeship Council would be the guardian of the new heritage and others global commons, as well as for addressing global catastrophic risks using the planetary boundaries framework as a guidance system.
by Paulo Miguel Ferreira Magalhães, William Lee Steffen, Maria Alexandra de Sousa Aragão, Katherine Meyer, Leena Iyengar, Alessandro Galli at globalchallenges.org
What would be the optimal structure of the private-public ownership for such condominium law, for addressing the global catastrophic risks?