Rich economies should hit oil and gas companies with new windfall taxes to provide help for countries suffering from climate change, and people struggling with soaring energy and food bills, UN Secretary General António Guterres says.
Guterres' comments, at the UN General Assembly in New York, come on the heels of a European Union proposal to introduce a windfall tax on oil, gas and coal companies, many of which have reported record-high profits as Russia's war in Ukraine and an energy crunch send prices soaring.United Nations Secretary-General Antonio Guterres addresses the 77th session of the General Assembly at UN headquarters.
"Today, I am calling on all developed economies to tax the windfall profits of fossil fuel companies," Guterres told the Assembly. "Those funds should be redirected in two ways: to countries suffering loss and damage caused by the climate crisis, and to people struggling with rising food and energy prices."
Typhoons and hurricanes have brought floods to Puerto Rico, the Dominican Republic and Japan this week. Drought is impacting vast swathes of the United States, China and Europe.Guterres warned that a "winter of global discontent is on the horizon," with inequality "exploding" and the cost-of-living crisis "raging" while the planet burns.
Planet burns lol
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