Report proposes tax on the ultra-rich to finance a global climate fund
1 Feb 2023
Climate change is also a story of inequality. Inequality between the culprits and the victims of a crisis that not only causes global heating but also triggers extreme weather events that further impoverish those who are already living in poverty.
A group of researchers from the World Inequality Lab – a project led by the French economists Lucas Chancel and Thomas Piketty – advocates for the creation of a global climate tax on the planet’s greatest fortunes. These experts say that the 65,130 wealthiest individuals, those with over $100 million (around €92 million), representing 0.001% of the world’s adult population, should pay a progressive tax ranging from 1.5% to 3% of their fortune to help less fortunate people adapt to global warming and protect themselves against this crisis.
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