{"id":71448,"date":"2024-11-22T11:28:02","date_gmt":"2024-11-22T10:28:02","guid":{"rendered":"https:\/\/www.greenpeace.org\/international\/?p=71448"},"modified":"2024-11-22T11:51:56","modified_gmt":"2024-11-22T10:51:56","slug":"who-should-pay-for-climate-loss-and-damage-tax-big-oil-for-fuelling-the-climate-crisis-extreme-weather","status":"publish","type":"post","link":"https:\/\/www.greenpeace.org\/international\/story\/71448\/who-should-pay-for-climate-loss-and-damage-tax-big-oil-for-fuelling-the-climate-crisis-extreme-weather\/","title":{"rendered":"Who should pay for climate loss and damage? Tax Big Oil for fuelling the climate crisis\u00a0"},"content":{"rendered":"\n
\u00a9 Marie Jacquemin \/ Greenpeace<\/div> \u00a9 Marie Jacquemin \/ Greenpeace” alt=”Indigenous Leaders at COP29 Day of Action in Baku \u00a9 Marie Jacquemin \/ Greenpeace” class=”wp-image-71449″\/>
Indigenous Leaders at COP29 Day of Action in Baku.
\u00a9 Marie Jacquemin \/ Greenpeace<\/div><\/figcaption><\/figure>\n\n

At the United Nations climate change conference in Baku (COP29), government officials are scrambling for an agreement on a new climate financial package. There is a well established consensus that the climate crisis is exacerbating the hardships of vulnerable communities around the world. The question now is: who’s going to pay for the staggering costs? <\/p>\n\n

A small tax<\/a> on just seven of the world\u2019s biggest oil and gas companies could grow the UN Fund for Responding to Loss and Damage<\/a> by more than 2000%, as shown in an analysis<\/a> by environmental organisations Greenpeace International and Stamp Out Poverty. Taxing last year\u2019s revenues of major oil companies could help cover the costs of some of this year\u2019s worst weather events attributed to climate change. <\/p>\n\n

Taxing ExxonMobil<\/a>\u2019s 2023 extraction could pay for half the cost of Hurricane Beryl<\/a>, which ravaged large parts of the Caribbean, Mexico and the USA. Taxing Shell<\/a>\u2019s 2023 extraction could cover much of Typhoon Carina<\/a>\u2019s damages, one of the worst that the Philippines experienced this year. Taxing TotalEnergies<\/a>\u2019 2023 extraction could cover over 30 times Kenya\u2019s 2024 floods<\/a>.<\/p>\n

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A post shared by Greenpeace International \ud83c\udf0d (@greenpeace)<\/a><\/p>\n<\/div>\n<\/blockquote>\n