Â鶹´«Ã½

Skip to main content

UN chief wants a tax on profits of fossil fuel companies, calling them 'godfathers of climate chaos'

A woman is silhouetted against the setting sun, Aug. 20, 2023, in Kansas City, Mo. (AP Photo/Charlie Riedel) A woman is silhouetted against the setting sun, Aug. 20, 2023, in Kansas City, Mo. (AP Photo/Charlie Riedel)
Share
NEW YORK -

UN Secretary-General Antonio Guterres called Wednesday for a "windfall" tax on profits of fossil fuel companies to help pay for the fight against global warming, calling them the "godfathers of climate chaos."

Guterres spoke in a bid to revive the world's focus on climate change at a time when elections, inflation and conflict in places like Ukraine, Gaza and Sudan have seized the spotlight.

In a speech timed for World Environment Day, the UN chief drew on new data and projections to make a case against Big Oil. The European Union's Copernicus service, a global reference for tracking world temperatures, said that last month was the hottest May ever, marking the 12th straight monthly record high.

The service cited an average surface air temperature of 15.9 Celsius (60.6 Fahrenheit) last month -- or 1.52 C higher than the estimated May average before industrial times.

The burning of fossil fuels -- oil, gas and coal -- is the main contributor to global warming caused by human activity.

The World Meteorological Organization said the global mean near-surface temperature for each year from 2024 to 2028 is expected to range between 1.1 and 1.9 C hotter than at the start of the industrial era. The landmark Paris climate accord of 2015 set a target of keeping the rise below 1.5 C (2.7 F).

"Beyond the predictions and statistics is the stark reality that we risk trillions of dollars in economic losses, millions of lives upended and destruction of fragile and precious ecosystems and the biodiversity that exists there," Ko Barrett, the WMO's deputy secretary-general, told a news conference in Geneva.

"What is clear is that the Paris agreement target of 1.5 C is hanging on a thread. It's not yet dead, but it's hanging by a thread," she added.

"This forecast is affirmation that the world has entered a climate where years that are as hot as 2023 should no longer be a surprise," Noah Diffenbaugh, a professor at Stanford's Doerr School of Sustainability, said in an email.

A study released Tuesday by 57 scientists said that as the world keeps burning fossil fuels, Earth is likely to reach the 1.5 C limit in four-and-a-half years.

UN experts and academics have repeatedly highlighted how rising temperatures can upend climate patterns and cause drought, flooding and forest fires. That can lead to climate migration, higher costs for farm products or insurance and greater public health risks linked to high heat or water scarcity.

"While some individuals may escape direct consequences, we will all be affected," said Waleed Abdalati, who heads an environmental sciences institute at the University of Colorado Boulder.

Guterres appealed to media and technology companies to stop taking advertising from the fossil fuel industry's biggest players, as has been done in some places with Big Tobacco.

He also repeated concerns about subsidies paid in many countries for fossil fuels, which help keep prices low for consumers.

"Climate change is the mother of all stealth taxes paid by everyday people and vulnerable countries and communities," he said. "Meanwhile, the godfathers of climate chaos -- the fossil fuel industry -- rake in record profits and feast off trillions in taxpayer-funded subsidies."

Guterres said global emissions of carbon dioxide must fall nine per cent each year to 2030 for the 1.5 C target under the Paris climate accords to be kept alive.

"We need an exit ramp off the highway to climate hell," Guterres said, while adding: "The truth is, we have control of the wheel."

He called on the Group of 20 countries -- which are holding a summit in Brazil next month and are responsible for about 80 per cent of all carbon dioxide emissions -- to lead. The richest one per cent of people on Earth emit as much as two-thirds of all humanity, he said.

"We cannot accept a future where the rich are protected in air-conditioned bubbles, while the rest of humanity is lashed by lethal weather in unlivable lands," Guterres said.

He appealed to "global finance," alluding to banks and international financial institutions, to help contribute, saying "innovative sources of funds" are needed.

"It's time to put an effective price on carbon and tax the windfall profits of fossil fuel companies," Guterres said.

But all countries must join the fight, he said, including the developing world, such as by ending deforestation and meeting targets to double energy efficiency and triple the use of renewable energy by 2030.

For the first time, a promise of US$100 billion a year in climate finance agreed in 2009 was fulfilled, according to the Organization for Economic Cooperation and Development. Still, experts say that's well below what's needed to fill the finance gap, with estimates of the annual cost of the global energy transition in the trillions.

Some experts said Guterres' alarmist rhetoric, including a reference to "playing Russian roulette" with the planet, could turn off some people.

"A phrase like this that conjures images of holding a gun to our head risks shifting the conversation away from the science and solutions and more toward the emotion," Abdalati said, adding that "phrases like this serve as fodder for critics, who will claim this is hyperbole."

UN officials acknowledge that the secretary-general has little power beyond the "bully pulpit" -- his perch at the head of the world body -- to encourage change.

CTVNews.ca Top Stories

Debate gets testy as MPs consider confidence motion in PM Trudeau

MPs debated the first non-confidence motion of the fall House of Commons sitting today, seeing Conservative Leader Pierre Poilievre push once again for a snap election. But with votes secured to keep them afloat, Prime Minister Justin Trudeau's Liberals were quick to turn the discussion into a referendum on the Conservative alternative.

A city councillor in British Columbia says an online mob of "extremists" and "politically motivated hackers" is responsible for uncovering and publicizing a photo of him wearing a blackface costume to a Halloween party in 2007.

After Ontario Premier Doug Ford made controversial comments about solutions to get people out of homeless encampments, advocates and members of the opposition spoke up on Tuesday.

Four puppies were found near County Road 21 in Essa Township after a passerby spotted one when it ran out of the ditch and onto the road.

We've all had neighbours we didn't like, but two people from Sault Ste. Marie have been awarded more than half a million dollars for the 'extreme' behaviour of the people who lived next to them.

Local Spotlight

Police are looking to the public for help after thieves broke into a Lethbridge ice creamery, stealing from the store.

An ordinary day on the job delivering mail in East Elmwood quickly turned dramatic for Canada Post letter carrier Jared Plourde. A woman on his route was calling out in distress.

Fire has destroyed a barn and 17,000 plants at a family-owned business in Lower Coverdale, N.B.

Before influencers on social media, Canada’s Jeanne Beker was bringing the world of high fashion down to earth and as Calgary’s Glenbow Museum gets a major make-over, it will include a new exhibition showcasing the pop culture icon.

A sea lion swam free after a rescue team disentangled it near Vancouver Island earlier this week.

A Nova Scotian YouTuber has launched a mini-truck bookmobile.

Cole Haas is more than just an avid fan of the F.W. Johnson Wildcats football team. He's a fixture on the sidelines, a source of encouragement, and a beloved member of the team.

Getting a photograph of a rainbow? Common. Getting a photo of a lightning strike? Rare. Getting a photo of both at the same time? Extremely rare, but it happened to a Manitoba photographer this week.

An anonymous business owner paid off the mortgage for a New Brunswick not-for-profit.