US EditionGordon Brown: States that profited from oil surge should pay global windfall
- Wealthy oil states such as Saudi Arabia, the UAE, Qatar, and Norway should contribute 3% of their export earnings, totaling $25bn in 2022, to a global windfall levy in order to support poorer nations in their fight against climate change.
- These petro-states saw their profits more than double in 2022 due to the spike in global oil prices, which led to a lottery-style bonanza. A global windfall levy would not only help combat climate change but also pave the way for a climate finance fund to assist the global south.
- These skyrocketing oil profits have been described as almost unimaginable, highlighting the urgent need for countries to step up and contribute their fair share towards climate change initiatives.
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Gordon Brown: States that profited from oil surge should pay global windfall
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. The post Gordon Brown: States that profited from oil surge should pay global windfall appeared first on Energy Voice.
·United Kingdom
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Gordon Brown: States that profited from oil surge should pay global windfall
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.
·Ketley, United Kingdom
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