A new report finds that more than a trillion dollars could have been raised for climate action and development since the adoption of the Paris Agreement in 2015, if the world's 100 largest oil and gas companies had been charged a 20 per cent surtax on their enormous profits.
Make polluters pay: Proposal for a surtax on fossil fuel industries’ profits by the Global Alliance for Tax Justice (GATJ) and the European Network on Debt and Development (Eurodad) shows how billions of dollars can be mobilised for climate action. The release of this report comes at the start of the UN Tax Convention negotiations in Nairobi, in parallel to the COP30 climate negotiations in Belém. In relation to the UN Tax Convention, civil society groups are urging governments to include a Polluter Pays surtax on fossil fuel companies.
