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Antonio Guterres, tax on unexpected profits of oil and gas companies

Thursday | 4.8.22 | Last Updated 2022-08-04T17:45:07Z
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UN Secretary General, Antonio Guterres

 "I urge all governments to tax these excessive profits and use the funds to support the most vulnerable people through these difficult times," he said. "And I urge people everywhere to send a clear message to the fossil fuel industry and their financiers that this terrible greed is punishing the poorest and most vulnerable people, while destroying our only common home, the planet. ," said Guterres. Secretary General of the United Nations, Antonio Guterres, on Wednesday (3/8) local time, called for the imposition of a tax on unexpected profits from oil and gas companies. 






The tax is used to reduce the impact of the energy crisis on the most vulnerable people. "It is immoral for oil and gas companies to make record profits from this energy crisis on the back of the poorest people and communities and at great cost to the climate," Guterres said at the launch of the UN's third report in response to the global crisis on food, energy and health. finances over the conflict in Ukraine. According to him, the profits of the largest energy companies in the first quarter of this year when combined are close to 100 billion US dollars. There is also a need to accelerate the transition to renewable energy, which in most cases is cheaper than fossil fuels. 

At the same time, private and multilateral financing for the green energy transition must be increased. Every country is part of the current energy crisis, and all countries pay attention to what others are doing. "There is no place for hypocrisy," the UN secretary general said. All countries, especially developed countries, must manage energy demand, saving energy, promoting public transport and nature-based solutions are important components of it all. Some of the same developed countries introduced universal subsidies at gas stations, while others reopened coal-fired power plants. 

It is difficult to justify such measures even temporarily. "If such policies are to be implemented, such policies must be strictly time-bound and targeted, to ease the burden on the energy-poor and the most vulnerable, during the quickest possible transition to renewable energy," Guterres said. Developing countries have no shortage of reasons to invest in renewable energy. Many of them are living with the severe impacts of the climate crisis. What they don't have are concrete and workable options. Meanwhile, developed countries are urging them to invest in renewable energy, without providing sufficient social, technical or financial support.

Household budgets everywhere are getting drained by high prices for food, transport and energy, fueled by climate damage and war. "This threatens a hunger crisis for the poorest households, and severe cuts for those on average incomes," he said. Furthermore, he highlighted that the conflict in Ukraine, besides causing damage at home, also has a large and multidimensional impact far beyond borders, through a threefold crisis of access to food, energy and finance.


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