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The authors propose a global Pigouvian tax scheme combined with international side-payments to achieve Pareto-optimal climate policy. They argue that treating climate policy as an 'impure public good'—which provides both global climate stabilisation and local ancillary benefits (e.g., reduced air pollution)—increases the attractiveness of mitigation and provides immediate financial payback for investments. Numerical simulations show that while ancillary benefits only moderately increase the required tax rates, they expand the financial scope for international transfers. The study concludes that these immediate local benefits are critical for political support, especially for countries with high public debt, as primary climate benefits are delayed by approximately half a century.