Fossil fuel giants, luxury travel users and shareholders who benefit from polluting industries could be forced to contribute directly to climate resilience measures under a new bill that will be introduced into Parliament on Thursday.
The bill of the Climate Finance Fund (fuels and contamination fossil), presented by Labor Deputy Richard Burgon, demands the creation of a dedicated fund to finance the defenders of the floods, the home insulation programs and other protections related to the climate. It proposes new levies on oil and gas companies, capital gains and dividends of pollutant industries and high -emission luxury activities, including supereyates and private planes.
“Fossil fuel giants have taken us to the edge of the climate catastrophe, Burgon said. “They have obtained obscene profits while millions suffer from the consequences. It is correct that the most responsible for the crisis finance the necessary urgent climate action, both at home and abroad.”
He thought that the bill has few possibilities of becoming the law as a motion of a private member, marks the beginning of a broader campaign inside and outside the Parliament to mobilize public and political support for a “contaminating pay” approach for climatic finances.
The proposal is produced in the midst of Conerns increasing about the policies of net zero policy, following the local electoral success of reform UK, which has openly criticized climatic initiatives as unfair to low -income homes. However, the surveys in charge of Global Witness and made by more in common suggests an important support of the cross parts to make the main pollutants contribute more.
According to the survey, two thirds of adults in the United Kingdom are concerned about increasing damage to climate change, and 70% of reform voters support higher taxes to fossil companies and other high -emitting companies.
Flossie Boyd, the main activist of Global Witness, said that the findings challenge the assumptions about climate skepticism: “Despite the vocal opposition of the leaders of reform of climate action, the survey that most reform voters are concerned are concerned about the responsible tax.”
The bill also proposes the elimination of fossil fuel subsidies, and would expand the existing fiscal frameworks to include dividends, capital gains and luxury emissions. These funds would be counted by national and international climate adaptation efforts, such as flood preparation communities, extreme climatic events and sea level increase.
Louise Hutchins, Campaigns Director At Stamp Out Poverty, Said: “There’s Hge Public Support for Making Big Polluters Pay Up for The Climate Damage They Areaed. You get you cut you cut you cut you cut you cut you cut you counted toos, take you to you, tame toke toke toosted roasted roasted roasted roasted roasted roasted roasted roasted roasted roasted roasted roasted roasted roasted roasted roasted roasted roasted roasted roasted roasted roasted roasted roasted roasted roas Tosted Tosted Tosted Tosis.
The impulse of a dedicated climate damage fund occurs when the United Kingdom government faces key decisions on future climate finance commitments, both nationally and internationally. Although Foreign Minister Rachel Reeves has reaffirmed her government’s commitment to Net Zero, the way to pay it, and who makes the bill, remains a political accused.
With the growing appetite of voters for the fairest financing mechanisms and the sustained pressure of civil society groups, the “Pay Pollier” campaign can still gain more political traction in the period prior to the next general elections.
Jamie Young
Jamie is a senior reporter of Business Matters, who brings more than a decade of experience in commercial reports of the United Kingdom. Jamie has a business administration title and participates regularly in conferences and industry workshops. When he does not inform about the last business development, Jamie is passionate about the mentoring of promising journalists and businessmen to inspire the next generation of business leaders.
