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Guardian: Leaked Plans for a Global Carbon Tax
2 days ago Eric Worrall
According to The Guardian, poor countries will demand a global carbon tax this week on airline travel, shipping fuel and fossil fuel extraction.
Vulnerable countries demand global tax to pay for climate-led loss and damage
Poor nations exhort UN to consider ‘climate-related and justice-based’ tax on big fossil fuel users and air travel
Fiona Harvey Environment correspondent
Mon 19 Sep 2022 15.00 AEST
Some of the world’s most vulnerable countries have prepared a paper, seen by the Guardian, for discussion this week at the UN general assembly. It shows that poor countries are preparing to ask for a “climate-related and justice-based” global tax, as a way of funding payments for loss and damage suffered by the developing world.
The funds could be raised by a global carbon tax, a tax on airline travel, a levy on the heavily polluting and carbon-intensive bunker fuels used by ships, adding taxes to fossil fuel extraction, or a tax on financial transactions.
All options for funding loss and damage are likely to be difficult for rich nations to agree to at a time of soaring fossil fuel costs, rising food prices and a cost of living crisis around the world. Although rich countries agreed at the Cop26 UN climate summit in Glasgow last year that there should be a framework for loss and damage, there is no agreement on how it could be funded or who should contribute.
https://wattsupwiththat.com/2022/09/19/guardian-leaked-plans-for-a-global-carbon-tax/
