UN: UN Secretary General Antonio Guterres on Tuesday urged rich countries to tax windfall profits of fossil fuel companies and use that money to help countries harmed by the climate crisis and people who are struggling with rising food and energy prices.
Addressing world leaders at the 193-member United Nations General Assembly, the climate activist Secretary-General stepped up his attacks on oil and gas companies, which have seen their profits explode by tens of billions of dollars.
“The fossil fuel industry is feasting on hundreds of billions of dollars in subsidies and windfall profits while household budgets shrink and our planet burns,” he said.
While Mr Guterres again pushed developed countries to tax the fossil fuel windfall profits, this time he also used his bully pulpit to spell out where the money should be spent. “Those funds should be redirected in two ways: to countries suffering loss and damage caused by the climate crisis, and to people struggling with rising food and energy prices,” he told the annual gathering of world leaders in New York. “Polluters must pay,” Guterres said. “Our world is in big trouble. Divides are growing deeper. Inequalities are growing wider. And challenges are spreading farther,” the UN Secretary General said on Tuesday. “We need action across the board.”
- THE STRAITS TIMES
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