UN chief Guterres calls for tax on fossil fuel companies at Cop27

World leaders will call for tougher concrete action to tackle the planet's climate crisis when addressing the third day of Cop27 on Tuesday. On Monday, leaders at a two-week UN summit in Egypt spoke of the need to agree on "loss and damage" mechanisms by which rich nations will fund measures taken by the most vulnerable countries mitigate the effects of climate change. A proposal by UN Secretary-General Antonio Guterres was an unexpected tax on the fossil fuel companies that benefit from rising energy prices. , with the money being used to help vulnerable nations. "That's why I'm calling for a nationwide supply of early warning systems within five years. "And that's why I urge all governments to tax the windfall profits of fossil fuel companies.

Let's channel money to people battling rising food and energy prices and to countries suffering loss and damage from the climate crisis