World's rich must pay more to tackle climate crisis, expert says
The richest 1% of people in the world are responsible for more greenhouse gas emissions than the 66% at the other end of the scale, yet they experience little of the vulnerability to climate shocks that are causing suffering and death, mainly among poorer people.
Rich individuals in all countries must pay more to tackle the climate crisis, whether through taxes or charges on consumption, one of the architects of the Paris Agreement has said.
There is a growing consensus on the need for some kind of global wealth tax, with Brazil, which will host the Cop climate summit next year, an enthusiastic supporter.
Meanwhile, poor countries are struggling to raise the estimated $1tn (€920bn) a year of external finance needed to help them cut emissions and cope with the impacts of the climate crisis.
Another proposal is for a frequent flyer levy, as the richest people tend to take far more flights. Laurence Tubiana, the chief executive of the European Climate Foundation, said a levy could be targeted at business class and first class seats.
Other possible sources of revenue include a carbon tax on international shipping, which could raise billions without disrupting global trade, according to research from the World Bank.
Levies on fossil fuels could also play a role.
The richest 1% of people in the world are responsible for more greenhouse gas emissions than the 66% at the other end of the scale, yet they experience little of the vulnerability to climate shocks that are causing suffering and death, mainly among poorer people.
Tubiana said: “This inequality is true not only between developed countries and developing ones, but within each country — the 1% of rich Chinese, or the 1% of very rich Indians, or the US citizen — they have a lifestyle which is very, very similar, in terms of overconsumption. That’s where your carbon footprint comes in.”
Failing to address these inequalities could damage public acceptance of the measures needed to tackle the climate crisis, she said.
Tubiana is co-chair of the International Tax Task Force, an initiative spearheaded by the governments of Barbados, France and Kenya, and set up at last year’s UN climate summit, to examine ideas for raising the sums needed.
Climate finance will be the key focus of this year’s UN climate summit, Cop29, in Azerbaijan. Government representatives were gathering on Monday in Germany, where the UN framework convention on climate change secretariat is based, for a fortnight of preliminary talks, where officials will test the waters for some of the key proposals.
Although there is no clear agreement on the way forward, Tubiana said there was widespread acknowledgment among governments that new ways must be found. “At the G20 meetings, there was quite a consensus on, yes, we should do better, we have to reform our tax system,” she said.
Discussing revenue raising under the Paris climate agreement will be tricky, however. Governments are particularly touchy about national sovereignty when it comes to taxation.
Tubiana said she hoped the very rich would cooperate with governments on paying for the climate crisis. “I’m optimistic that some of them can speak up, in particular the younger generation,” she said. “But we have to convince them as well.”
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