The UN asks all countries to tax the extraordinary profits of oil companies

The Secretary-General of the United Nations, Antonio Guterresdemanded this Monday from “all governments” the implementation of taxes on the extraordinary profits obtained by oil companies to face the problems arising from the rise in food and energy prices and the damage suffered by the countries affected by the climate change.

Guterres expressed himself in this way during his participation in the opening of the Implementation Summit, as the world leaders forum that takes place within the framework of the Climate Summit COP27and that from Monday until tomorrow, Tuesday, brings together almost a hundred heads of state and government in the Egyptian city of Sharm el Sheikh.

We will redirect the money to people affected by rising energy and food prices and to countries suffering loss and damage from the climate crisis.

António Guterres, UN Secretary General

“I urge all governments to tax the windfall profits of fossil fuel companies. We will redirect the money to people suffering from rising energy and food prices and countries suffering loss and damage from the climate crisis.”

Regarding the issue of damages, the compensation due to developing countries who suffer the consequences of climate change but bear little responsibility for the polluting emissions that caused them, Guterres stressed that this meeting must agree “an accurate map with a clear timeline that reflects the scale of the urgency of the challenge”.

“This plan must include effective institutional arrangements for its funding,” he said.

For the UN Secretary General, obtaining “concrete results” in this regard is the high point that will determine “the commitment of governments to the success of COP27”.

Read Also:  Quick Natural Hand Soap Recipe

Pact between rich and poor

Guterres also called on developed and emerging economies to establish a ‘climate solidarity pact’, so that all countries “make an extra effort to reduce emissions this decade, in line with the 1.5 degree target”.

The pact envisages the phasing out of coal in OECD countries by 2030 and in all others by 2040. Guterres reminded the US and China that they have a particular responsibility

This agreement should also ensure that rich countries and international institutions “provide technical and financial assistance to help emerging economies accelerate their own transition to renewable energy” and “end dependence on fossil fuels”.

It also contemplates “phasing out coal in OECD countries by 2030 and in all others by 2040”.

For that, he remembered United States and Chinathe two largest economies in the world, which have “a particular responsibility to join efforts to make this pact a reality”, which represents the “only hope for achieving the climate goals”.

Recent Articles

Related News

Leave A Reply

Please enter your comment!
Please enter your name here