UN chief requires vitality windfall taxes to assist local weather victims | Local weather Disaster Information

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United Nations Secretary-Basic Antonio Guterres urges wealthy international locations to assist international locations harmed by the local weather disaster and people fighting rising vitality costs.

UN chief Antonio Guterres has urged wealthy international locations to tax windfall earnings of fossil gas corporations and use that cash to assist international locations harmed by the local weather disaster and people who find themselves fighting rising meals and vitality costs.

Addressing world leaders on the 193-member United Nations Basic Meeting on Tuesday, the secretary-general stepped up his assaults on oil and gasoline corporations, which have seen their earnings soar this yr amid rising vitality costs.

“The fossil gas trade is feasting on lots of of billions of {dollars} in subsidies and windfall earnings whereas family budgets shrink and our planet burns,” he mentioned.

“Polluters should pay,” he added.

Guterres pushed developed international locations to tax the fossil gas windfall earnings and recommended how the cash must be spent.

“These funds must be redirected in two methods: to international locations struggling loss and injury attributable to the local weather disaster; and to individuals fighting rising meals and vitality costs,” he informed the annual gathering of world leaders in New York.

Britain has handed a 25 p.c windfall tax on oil and gasoline producers within the North Sea, whereas the European Union plans to lift greater than 140 billion euros ($139bn) to protect customers from hovering vitality costs by taxing windfall earnings from oil corporations and electrical mills.

Democratic lawmakers in the USA have mentioned the same thought, although it faces lengthy odds in a divided US Congress.

Whereas these plans concentrate on redirecting windfall earnings to home customers, the UN secretary-general advocated for a tax that may be directed to the world’s most climate-vulnerable international locations, which have been embracing the concept.

He additionally mentioned multilateral growth banks “should step up and ship” and that serving to poor international locations adapt to worsening local weather shocks “should make up half of all local weather finance.”

Guterres added: “Main economies are their shareholders and should make it occur.”

With international temperatures rising and part of Pakistan the dimensions of the UK lately below water, Guterres lashed out at fossil gas corporations and the “suicidal struggle towards nature”.

“It should be the primary precedence of each authorities and multilateral organisation. And but local weather motion is being placed on the again burner regardless of overwhelming assist internationally. We’ve a rendezvous with local weather catastrophe,” he mentioned.

“The warmer summers of at this time could be the cooler summers of tomorrow,” he warned.

Reporting from the UN, Al Jazeera’s diplomatic editor James Bays, mentioned Guterres’s deal with to the meeting was notably grim.

“We’ve heard grim speeches by the secretary-general earlier than; actually, I’ve listened to him since he [became] secretary-general [in 2017] and it’s been getting harder and harder – his speeches, the phrases he has been utilizing in regards to the scenario world wide,” Bays mentioned.



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