United Nations Secretary-General António Guterres has called for a “windfall” tax on the profits of fossil fuel companies in order to combat global warming. In his speech on World Environment Day, Guterres highlighted the alarming rise in global temperatures and the urgent need for action. His proposal to tax the profits of the fossil fuel industry is a bold and necessary step towards addressing climate change.
Guterres rightly points out that the fossil fuel industry has profited immensely from the exploitation of Earth’s resources while contributing to climate chaos. Imposing a windfall tax on their profits is a fair and just response to hold them accountable. It is analogous to the taxes levied on other industries that pose risks to public health, such as the tobacco industry. By redirecting these funds towards climate action, we can finance the necessary transition to a sustainable future.
While Guterres acknowledges that his power is limited to the “bully pulpit” of the United Nations, his call for action should not be disregarded. Governments, media, technology companies, and financial institutions all have a role to play. The Group of 20 countries, responsible for 80 percent of global carbon dioxide emissions, must take the lead in implementing transformative policies.
Energy Energy Latest News, Energy Energy Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessMirror - 🏆 19. / 59 Read more »