Global solidarity taxes: A climate idea whose time has come

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Subscribe to enjoy similar stories. From Bridgetown to Nairobi to Paris, no country is immune to the worsening effects of the climate crisis. With each passing year, we witness more climate-related destruction.

In 2024, we have set a number of new records: wildfires in Chile have destroyed more than 14,000 homes; extreme rainfall in Brazil has devastated 478 cities and left nearly two million people stranded in Bangladesh; and in July, the world experienced its hottest day ever. Africa has contributed only 3% of historical greenhouse-gas emissions, yet it endures some of the most severe climate-related disasters. These now cost the continent $15 billion per year, with climate-induced droughts and floods in 2023 causing food insecurity for more than 40 million Africans.

Convinced that no country should have to choose between fighting the climate crisis and combating poverty, we have decided to contribute to an ambitious reform of the international financial architecture. The Paris Pact for People and the Planet, the Bridgetown Initiative and the Nairobi Declaration each seek to provide one piece of the puzzle. Current international dynamics give us hope: Many reform tracks have been opened up, and some have delivered results.

That said, many more efforts are needed, and no options should be overlooked. One key piece is still underused: solidarity levies. Such policies are necessary to ensure that everyone contributes their fair share to what should be a global effort.