And she called for the money to be sent directly to the world’s most climate-vulnerable people.
by Arielle Samuelson, Heated
For the first time, the world’s most powerful countries are considering a proposal that would tax the super rich and send the money directly to the people on the front lines of the climate crisis.
The proposed climate tax is the brainchild of Nobel Prize-winning economist Esther Duflo, who presented it to the Group of 20 summit in Washington D.C. last Wednesday. Duflo suggested taxing global corporations and the world’s top billionaires to raise money for climate adaptation in countries that are most impacted by the climate crisis. The funds would be directly sent to the poorest individuals in those countries to help them prepare for climate disasters.
“Richer citizens emit much more than poorer citizens,” Duflo wrote in her proposal to the G20. But the brunt of extreme heat will be felt by poorer citizens who tend to live in hotter regions of the world. “Moreover, poverty makes it harder to adapt to warm temperatures,” she said.
This is the first time that a climate tax has been suggested on a world stage. The proposal comes amid new research that estimates that rising temperatures will cost $38 trillion per year in damages to agriculture, labor productivity, and infrastructure. The vast majority of that damage has been caused by the emissions of rich nations, including the U.S. and European countries.
Recent Posts
The Dead End Of Liberal American Zionism
May 20, 2024
Take Action Now The J Street “comprehensive diplomatic initiative” proposal is remarkable for what it does not do. By Abba A. Solomon and Norman…
ICC Prosecutor Seeks Arrest Warrants For Netanyahu And Hamas Leaders For War Crimes And Crimes Against Humanity
May 20, 2024
Take Action Now The International Criminal Court’s chief prosecutor applies for arrest warrants against Israeli Prime Minister Netanyahu, Defense…
UMass Arrests: What Would Daniel Ellsberg Do?
May 20, 2024
Take Action Now Outside a federal court in Boston, Ellsberg was asked if he was worried about going to jail. His response: “Wouldn’t you go to…
Carrying On Kent State’s Legacy Of Antiwar Organizing, Students Press For Divestment
May 19, 2024
Take Action Now Students at Kent State won disclosure of the university’s investment portfolio, but the fight to divest from the war industry is…