Foreign government officials attending the ongoing United Nations climate change summit are advocating A global climate tax indeed Funding green energy development in poor countries Before President-elect Trump returns to the White HouseAccording to the Financial Times. [emphasis, links added]
According to the Financial Times, officials from France, Spain and Kenya are pushing for a so-called “solidarity tax” on various industries at this year's conference, with a view to presenting a more complete version of the plan at next year's conference in Brazil. say.
The idea is to identify a plan to raise $100 billion or more annually Fund climate-related efforts in developing countries through a de facto tax on shipping and aviationand possibly other departments.
Discussions about providing climate cash to poor countries have been contentious in the past, and Trump — who withdrew from the U.N. Paris climate accord during his first term and is preparing to do so again — has generally opposed the transfer of funds in name only According to the Financial Times, attendees at this year’s summit got creative in finding sources of funding.
In addition to the shipping and aviation industry, Cryptocurrency trading, fossil fuel production, plastic producers, billionaires and financial transactions may be affected by the “solidarity tax” plan.
In fact, it’s not even clear whether the money generated by the “solidarity tax” will flow directly to poor countriesas an official Some countries have suggested the money should go to the shipping industry to help it drive decarbonizationAccording to the Financial Times.
Commitments by the shipping industry to reduce emissions have put more pressure on the aviation industry, which itself will mean more money for the oil and gas industry.
Many major airlines have become parties to the global carbon offset agreement reached in 2016, But the system is not designed to generate revenue that can be repurposedAccording to the Financial Times.
The working group evaluating the concept of a “solidarity tax” is considering the following options: They believe that up to $164 billion a year could be raised based on air ticket tariffs already in place in 21 countries.
Top image from COP29 media library
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