Leaders push for climate action, fossil tax at UN talks

World leaders are making the case for tougher action to tackle global warming Tuesday, as U.N. climate talks heard growing calls for fossil fuel companies to help pay for the damage they have helped cause

Via AP news wire
Tuesday 08 November 2022 07:15 GMT
COP27 Climate Summit
COP27 Climate Summit (Copyright 2022 The Associated Press. All rights reserved)

World leaders are making the case for tougher action to tackle global warming Tuesday, as this year's international climate talks in Egypt heard growing calls for fossil fuel companies to help pay for the damage they have helped cause to the planet.

United Nations chief Antonio Guterres warned Monday that humanity was on “a highway to climate hell with our foot on the accelerator," urging countries to "cooperate or perish.”

He and leaders such as Barbados Prime Minister Mia Mottley said it was time to make fossil fuel companies contribute to funds which would provide vulnerable countries with financial aid for the climate-related losses they are suffering.

The idea of a windfall tax on carbon profits has gained traction in recent months amid sky-high earnings for oil and gas majors even as consumers struggle to pay the cost of heating their homes and filling their cars.

The U.S. mid-term elections were hanging over the talks Tuesday, with many environmental campaigners worried that defeat for the Democrats could make it harder for President Joe Biden to pursue his ambitious climate agenda.

___

Follow AP’s climate and environment coverage at https://apnews.com/hub/climate-and-environment

___

Associated Press climate and environmental coverage receives support from several private foundations. See more about AP’s climate initiative here. The AP is solely responsible for all content.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in