United Nations chief calls for fossil fuel windfall tax

United Nations Secretary-General Antonio Guterres urged world leaders to increase taxes on coal, oil, and natural gas companies in order to mitigate the cost of climate change and provide relief from inflation.

“Today, I am calling on all developed economies to tax the windfall profits of fossil fuel companies,” Guterres said Tuesday. “Those funds should be redirected in two ways: to countries suffering loss and damage caused by the climate crisis, and to people struggling with rising food and energy prices.”