Tuesday, September 24, 2024

COMMON DREAMS: End Oil Subsidies + Tax the Rich = $5 Trillion for Climate

 


Ending Oil Subsidies, Taxing the Rich Could Help Free Up $5 Trillion a Year for Climate: Report

September 24, 2024

Research published Tuesday estimates that rich countries could mobilize over $5 trillion a year for climate action worldwide by cutting off subsidies to the oil and gas industry, imposing a levy on big polluters, and cracking down on tax evasion by large corporations and the rich.

"The truth is simple: the money exists, but the political will does not," said one expert.

 

READ THE FULL STORY


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