Yet one of the largest untapped sources of climate finance requires neither higher corporate tax rates nor new international funds. It lies in correcting one of the oldest assumptions underpinning the international corporate tax system. Yet one of the largest untapped sources of climate finance requires neither higher corporate tax rates nor new international funds. It lies in correcting one of the oldest assumptions underpinning the international corporate tax system. Yet this is precisely the legal fiction upon which the international corporate tax system was built—and continues to rest.