Global civil society organizations are calling for a tax on fossil fuel supplies to fund support to people hit by climate change impacts.
Polluters should pay for homes and livelihoods wrecked by rising seas and increasingly extreme weather, campaigners argued in a statement issued alongside UN climate talks in Bonn, Germany.
Expressing frustration with slow progress made on “loss and damage” in formal negotiations, more than 50 groups and individuals backed the “climate damages tax” idea.
“We need a solution to climate change damage for my island on the front line of sea level rise and for coastal cities and communities around the world,” said signatory and Seychelles ambassador Ronny Jumeau.
“A key part of the solution is loss and damage finance – we need new sources of finance to cope with the impacts. A climate damages tax could provide a new source of finance, at scale, and in a fair way. This concept deserves to be taken forward.