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Friday, June 14, 2024

UN secretary-general calls for ‘windfall’ tax on profits of fossil fuel companies

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UN secretary-general Antonio Guterres called on Wednesday for a “windfall” tax on the profits of fossil fuel companies to help pay for the fight against global warming, calling them the “godfathers of climate chaos”.

In a bare-knuckled speech timed for World Environment Day, Mr Guterres, who has repeatedly spoken out about the threat of climate change, said that global emissions of carbon dioxide must fall 9% each year to 2030 for the 1.5C target to be kept alive.

The burning of fossil fuels like oil, gas and coal is the main contributor to global warming caused by human activity.

He called on advanced economies in the Group of 20 countries, who are holding a summit in Brazil next month, to take the lead.

“We cannot accept a future where the rich are protected in air-conditioned bubbles, while the rest of humanity is lashed by lethal weather in unliveable lands,” Mr Guterres said


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