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Tax fossil fuel companies: UN chief urges countries to levy taxes on polluters

The world’s nations have been asked by United Nations Secretary Antonio Guterres to impose ‘windfall taxes’ of some kind on fossil fuel businesses. In his remarks at the UN General Assembly, he suggested that the funds be transferred to countries who are experiencing a severe climate catastrophe. In a speech outlining a variety of environmental problems affecting the world, Guterres declared that ‘polluters must pay’ for the harm inflicted by natural catastrophes in a number of nations.

In an address to the UN general assembly on Tuesday, Guterres said, ‘Today, I am calling on all developed economies to tax the windfall profits of fossil fuel firms,’ according to AFP. ‘ Those monies should be channelled in two ways,’ he said, ‘to those who are struggling with rising food and energy prices as well as to nations experiencing loss and damage caused by the climate issue’.

According to Guterres’ proposed proposal, nations that are often vulnerable to severe natural disasters might purchase early warning systems and other supplies using the money that would be raised through taxes. He called it a ‘global tax connected to climate and based on fairness’.

‘Let’s not fool ourselves. We are in choppy waters’. According to him, the world is approaching a season of rising unrest, the cost of living issue is raging, trust is eroding, inequality is surging, and the earth is burning. ‘ We have a responsibility to act, yet we are stuck in a massive global dysfunction. The global community is neither prepared or willing to take on the significant, urgent problems of our day’.

 

 

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