The former prime minister said a share of profits should help poorer nations fight climate change.
States which banked “staggering” profits from the high price of oil last year should pay a global windfall levy to help poorer nations in the fight against climate change, former prime minister Gordon Brown has said.
Speaking ahead of the Cop28 summit in Dubai later this year, Mr Brown said a global windfall levy would help kick-start a wider agreement for a climate finance fund to support the global south this winter. “Pre-Covid, global oil and gas revenues were, according to the International Energy Association running at 1.5 trillion dollars a year – in 2022, they soared to an unprecedented 4 trillion dollars .
“These producer states have done literally nothing to earn these extra profits. It represents one of the biggest-ever transfers of wealth from poor to rich nations.
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