The NGO network CAN Europe published, on Tuesday 19 September, a report outlining the main options for increasing new and additional public finance resources for the climate and an outlook with regard to new and innovative sources of funding at multilateral and EU level.
The coalition of organisations suggests that the European Union should examine a series of fiscal options to mobilise additional resources for climate action, in particular for the loss and damage fund approved at COP27. CAN Europe’s report is also based on a number of principles, including the polluter pays principle, countries’ historical responsibility for emissions and a commitment not to increase inequalities between or within nations.
The proposals put forward explore fiscal measures within the EU, such as taxation of oil companies, levies on aviation and shipping emissions and tax adjustments for imported products. Finally, financial transaction taxes and digital giants were also discussed.
Furthermore, while taxation remains a national competence, this report urges the EU to adopt a unified approach, despite the challenges this represents.
To read the report: https://aeur.eu/f/8o4 (Original version in French by Nithya Paquiry)