World leaders gathered at United Nations climate talks in Azerbaijan have been urged to consider taxing business-class air travel, large stock and cryptocurrency trades and plastics as negotiations over finance grind on.
New aviation levies could be applied to flights, targeted towards luxury travel, such as business, first-class or private flights.UN finance leaders now believe that developing nations will need $US1.3 trillion a year by the 2030s, a figure backed by one of the largest UN groupings of nations, the G77.
“One solution is international taxation of high-emitting sectors, which has the potential to raise significant amounts of revenue that could be used to fill the climate financing gap,” says the group’s report.estimated that cryptocurrencies added 1 per cent to global energy demand last year, and that charging $US0.045 per kWh for the energy would produce $US5 billion.
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