Pauline von HellermannSep 26, 2023

#ClimateDiary read yesterday’s “How do we raise trillions of dollars to fight the climate crisis? The answer is staring us in the face” by #GordonBrown just now ( ❤️ paper version = catch up) and really would like to spread his message: we need a global #WindfallTax on #PetrolProfits. This needs to be the tangible outcome of #COP28 we should all campaign for. Put so well here by Gordon Brown. #aclimateEmergency

https://www.theguardian.com/commentisfree/2023/sep/25/we-need-trillions-of-dollars-to-fight-the-climate-crisis-this-is-my-plan-to-raise-it?CMP=Share_iOSApp_Other

How do we raise trillions of dollars to fight the climate crisis? The answer is staring us in the face

The profits for oil and gas companies have reached truly staggering proportions. A simple levy could funnel money to the global south, says former UK prime minister Gordon Brown

The Guardian
Show threadAlbert CardonaSep 26, 2023

@pvonhellermannn

Aren't the subsidies to petroleum about a trillion per year, presently? Reallocating these to renewables and bicycling and public transport infrastructure would go a long way.

Show threadPauline von HellermannSep 26, 2023
@albertcardona True. I know very little about all this but can imagine that it may be logistically easier/quicker to introduce a new tax than to dismantle existing subsidies, which may be quite baked in with contracts etc (eg #EnergyCharterTreaty?). Not defending subsidies, they clearly are 💯 wrong and need to go, but maybe introducing this kind of windfall tax is more “doable” in the short term
Show threadAlbert Cardona
@pvonhellermannn thank you, makes sense.
Sep 26, 2023 at 10:11amWeb