France, Spain, others agree to tax premium flyers, private jets
As many richer nations scale back official development aid for countries even as extreme weather events increase in frequency and severity, some are looking to find new sources of finance, including by taxing polluting industries.
The announcement on the opening day of a U.N. development summit in Seville, Spain, was one of the first to emerge from the "Sevilla Platform for Action" that aims to deliver on the renewed global financing framework agreed ahead of the event.
"The aim is to help improve green taxation and foster international solidarity by promoting more progressive and harmonised tax systems," the office of Spanish Prime Minister Pedro Sanchez said in a statement.
The initiative, which was co-signed by Sierra Leone, Benin and Somalia, will get technical support from the European Commission, it added.
All are members of the Global Solidarity Levies Task Force, launched in November 2023 to explore new forms of taxation that could help support developing countries' efforts to decarbonise and protect themselves against the impacts of climate change.
As well as an aviation tax, which could raise billions of dollars, the task force said in a recent report that other sectors that could potentially be taxed more include shipping, oil and gas, cryptocurrencies and the super-rich.
Rebecca Newsom of environmentalist group Greenpeace called the move "an important step towards ensuring that the binge users of this undertaxed sector are made to pay their fair share".
She added that the "obvious" next step was to hold oil and gas corporations to account. REUTERS
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Straits Times
5 hours ago
- Straits Times
Top Russian general convicted in high profile corruption case
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Straits Times
9 hours ago
- Straits Times
Spain and World Bank in push for wider use of 'debt swaps'
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Straits Times
14 hours ago
- Straits Times
Spain, World Bank launch debt-swap hub to free up development funds
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