UN chief wants tax on fossil fuel superprofits
António Guterres proposed using exceptional profits to aid nations hit by climate change.
United Nations Secretary-General António Guterres called for taxing the exceptional profits of fossil fuel companies to fund aid for countries severely impacted by climate change. Guterres made this proposal in an interview with the Associated Press ahead of the COP31 summit.
The UN chief stated that the considerable profits made by these companies should help cover expenses for nations facing droughts, floods, and other climate-related disasters. He suggested that the proposed tax revenues would go to these countries, many of which have contributed little to the emissions causing global warming.
The COP31 conference is scheduled to take place in Antalya, Turkey, from November 9 to 20, 2026. Guterres, whose term ends in December 2026, also noted the global rise of solar and wind energy, which are often cheaper than fossil fuels.
Why it mattersBenin, like many nations, is vulnerable to climate change impacts and could benefit from international funding for adaptation.