UN chief calls for energy windfall taxes to help climate victims | Climate Crisis News

United Nations Secretary-General Antonio Guterres called on rich countries to help countries hurt by the climate crisis and those struggling with rising energy prices.

United Nations chief Antonio Guterres has called on rich countries to tax the profits of fossil fuel companies and use that money to help countries hurt by the climate crisis and those who are already suffering. struggling with rising food and energy prices.

Addressing world leaders at the 193-member United Nations General Assembly on Tuesday, the Secretary-General stepped up attacks on oil and gas companies, which have seen huge gains. Their profits have skyrocketed this year amid rising energy prices.

“The fossil fuel industry is raking in hundreds of billions of dollars in subsidies and profits while household budgets shrink and our planet burns,” he said.

“Polluters have to pay,” he added.

Guterres has pushed developed countries to tax fossil fuel profits and suggested ways to spend the money.

“Those funds should be redirected in two ways: for countries that have suffered losses and damage caused by the climate crisis; and for those struggling with rising food and energy prices,” he told the annual meeting of world leaders in New York.

Britain has passed a 25% wind income tax on North Sea oil and gas producers, while the European Union plans to raise more than 140 billion euros ($139 billion) to protect consumers. from rising energy prices by taxing profits from oil and electricity companies. generator.

Democratic lawmakers in the United States have discussed a similar idea, though it faces long-term setbacks in a divided US Congress.

While these plans focus on redirecting profits to domestic consumers, the United Nations secretary general has advocated imposing tariffs aimed at the most climate-vulnerable countries. around the world, countries have been accepting this idea.

He also said multilateral development banks “must step up and deliver” and that helping poor countries adapt to increasingly severe climate shocks “must account for half of all climate finance.” .

Guterres added: “The major economies are their shareholders and have to make it happen.”

With rising global temperatures and part of Pakistan Given the size of the UK recently underwater, Guterres attacked fossil fuel companies and the “war against nature”.

“That should be the top priority of every government and multilateral organization. However, climate action is coming to the fore despite overwhelming support around the world. We have a rendezvous with climate catastrophe,” he said.

“Today’s hotter summer could be tomorrow’s cooler summer,” he warned.

Reporting from the UN, Al Jazeera’s diplomatic editor James Bays said Guterres’ speech before the meeting was particularly grim.

“We have heard the secretary-general’s grim speeches before; in fact, I’ve been listening to him ever since he [became] general secretary [in 2017] and it just got harder and harder — his speeches, the words he used about the situation around the world,” Bays said.

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