Rich Countries Should Tax Fossil Fuel Companies To Pay For Climate Damages, Urges UN Secretary General

  • 📰 TIME
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 53%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

Speaking at the U.N. General Assembly, Guterres urged richer countries to tax the profits of energy companies to fund climate damages

and offset rising fuel and food costs, the United Nations Secretary-General told world leaders Tuesday.

He urged richer countries to tax the profits of energy companies and redirect the funds to both “countries suffering loss and damage caused by the climate crisis” and those struggling with the rising cost of living.are enjoying extraordinary profits as a result of supply shortages due to the Russia-Ukraine war. The proposal seeks to raise about $140 billion to help people with the soaring cost of energy.

He claimed many fossil fuel companies are “at the forefront of the clean energy revolution and in most cases driving the innovation needed to make an energy transition.” Guterres also called for developed nations to pay for the loss and damage happening in poorer nations, which do little to contribute to climate change but suffer the worst effects. That includes Pakistan, which is still reeling from devastating floods in the south last month caused in part by warming temperatures.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 93. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

If the U.S. reopened their Oil lines in order to fully maximize the taxes they would make off energy, how much of an effect could this possibly have on climate control. Could it have a positive effect on the economy? LuiggiDonayre econ_ta UMDEcon

'Democrats' easiest way = more taxes. Thanks, Mr. Bolsonaro for go in the opposite way, investing in low footprint energies but don't overtaxing brazilian people.

Do y'all know that South Africa finds itself in the midst of power blackouts because of the COP's and unrealistic commitments to move from coal to renewables.

right, causing them to raise profits further. The global rulers hate the plebs.

Iranian woman, Mahsa_Amini, 22, is brain dead after being assaulted by morality/Sharia police Her crime? She wasn’t wearing a hijab خارکصه داری چه گهی میخوری Mahsa_Amini مهسا_امینی

🤦🏾‍♂️👈🏾

Australia Australia Latest News, Australia Australia Headlines