Global Solidarity Levies Task Force

Global ambition for mobilising climate and development finance is growing rapidly. There is international consensus on the lack of balance between those most responsible for the #climatecrisis and its victims - and the imperative to find equitable sources of finance has never been stronger. See below for Aurélie Verronneau's great explainer on how the task force, UN, OECD and other global initiatives are leading the charge to find equitable sources of #climatefinance via @rsedatanews (paywalled) https://lnkd.in/e28SsbAM

As a task force, we want to be as open as possible. We’ll ensure that expertise from around the world is considered in our research. We welcome your comments, suggestions and questions on how we can succeed together! Have a suggestion? Feel free to get in touch 👇 https://lnkd.in/duJ7eXNM

What are GLSTF’s areas of inquiry? The task force will explore a range of #climatefinance options, from maritime levies and air passenger levies, through to financial transaction levies and a windfall fossil fuel profits tax. Find out more about the task force here: https://lnkd.in/gnKT8UGZ

“Even as corporate profits have soared in recent years, corporate tax revenues have not.” So says Joseph Stiglitz in a new Foreign Affairs Magazine article about the “broken” international tax system, in which he argues that international reform is needed, and that “cooperation in the fight against climate change is crucial”. Cooperation in the face of the #climatecrisis is central to the task force’s work, as we explore different levy options to bring equitable climate justice to our current financial system. By putting forward a range of levy options on heavily-polluting industries, we are ensuring that the highest polluters, rather than ordinary people, fund the #greentransition. Read more of Stiglitz’s article here: https://lnkd.in/etF4dtnH

To address #climatechange, “we need finance at scale”. So stated UN Special Adviser on Climate Action Selwin Hart at this year’s London Climate Action Week, as the event set out to address the big challenge of facing the global climate transition. The sentiment was echoed by Canada's Ambassador for Climate Change Catherine Stewart, in an interview she affirmed “we need everybody coming to the table". As a Task Force, we are working to create global solidarity around climate levies and foster collaboration and political will, to unlock #climatefinance.🌍

We are pleased to announce the task force’s official name. We are the Global Solidarity Levies Task Force: For People and the Planet. By 2030, developing countries (excluding China) must mobilize $2.2 trillion each year to meet climate finance commitments and limit the temperature increase to 1.5°C above pre-industrial levels, as set out in the #ParisAgreement. But right now, the poorest countries and communities are suffering the worst effects of #climatechange while contributing the least to the problem. The task force’s mandate is to change this by finding equitable sources of #climatefinance that make the biggest polluters contribute fairly. That’s why we’re bringing together a coalition of willing countries, undertaking extensive research and advancing political will for solidarity levies that can be implemented around the world. Follow our work below: https://lnkd.in/gnKT8UGZ

This weekend marked the anniversary of the Summit for a New Global Financing where the #ParisPactforPeopleandPlanet was agreed, aiming to eradicate poverty and preserve the planet. As part of the pact, participants issued a declaration calling for the exploration of new avenues for global levies, through the formation of a task force to drive forward the development of feasible, scaleable and sensible proposals. With the task force formally launched at COP28, @LaurenceTubiana, co-chair for the task force, spoke to We Don’t Have Time, the world's largest media platform for #climateaction, at the Bonn Climate Change Conference about the need to raise global climate and development funds through levies. Professor Tubiana drew parallels with existing initiatives such as the Unitaid air passenger levy which raises funds for global health initiatives to tackle challenges like HIV/AIDS, malaria and tuberculosis in developing countries. To watch Professor Tubiana’s interview, please skip to 3:30 in the live stream video: https://lnkd.in/d2n2HSKf

During the Bonn Climate Change Conference, Ali Mohamed, Kenya’s climate envoy, spoke of the importance of developed nations supporting Africa’s climate response. Highlighting the task force’s work, he said that "Through this tax task force, there is an opportunity to raise more funds from aviation, shipping, fuel taxation among many other potential levies." These initiatives are crucial in addressing the #climatefinance gap and ensuring that developing countries can effectively implement their climate strategies. The task force brings together governments to foster political will and advance options for international climate levies. Co-chaired by Barbados, France and Kenya, it’s aiming to mobilise additional finance for climate and development action.🌍 Together, we can support and advocate for innovative financial solutions to combat #climatechange and promote sustainable development. 🌱

Between 2000 and 2022, the number and duration of droughts rose by 29%. By 2030, an estimated 700 million people will be at risk of being displaced by drought. At the same time, drought causes food shortages and insecurity when crops fail. Today, on World Day to Combat Desertification and Drought, we would like to call attention to the role that global levies can play in helping us combat the worst effects of the climate crisis and supporting developing countries on the frontlines. Find out more about our work here: https://lnkd.in/dXkhJdJ7 #UNited4Land #DesertificationandDroughtDay

ICYMI: the task force and the global discussion of how to finance climate action featured in  @AttractaMooney’s Financial Times Big Read: https://t.co/m0T4KVeokp