Paris climate conference fails to reach agreement on emissions tax

This led climate NGOs and activists to complain about the lack of sufficiently ambitious responses to combat climate change and global inequality presented at the meeting.

The two-day meeting of world leaders and financial bosses ended without any major announcements, although organisers did lay out a promising “roadmap” for the next two years.

Paris conference fails to reach agreement on abortion tax — French President Emmanuel Macron speaks during the closing session of the New Global Financial Pact Summit on June 23, 2023 in Paris. Photo: AP

“We have to understand that if we don’t change the system, the world will remain the same,” said Brazilian President Luiz Inácio Lula da Silva. “The rich will remain rich. The poor will remain poor. That’s the way it is.”

The idea of a global tax on greenhouse gas emissions from international shipping has gained traction and is likely to be adopted at a July meeting of the International Maritime Organization, the United Nations’ shipping regulator. The money could be directed to developing countries to help them tackle climate change.

Some experts believe that the transport tax alone could raise $100 billion a year, and strong support for it in Paris would hand Mr Macron a symbolic victory.

US Treasury Secretary Janet Yellen, who attended the conference, called the tariff “a very constructive proposal” and said the US would consider it.

It was not clear which countries at the conference supported the proposal. But the French president said 23 countries, not named in the official statement, had backed the initiative.

According to the International Maritime Organization, shipping accounts for nearly 3% of greenhouse gas emissions. A report by the European Parliament has warned that share could increase significantly by 2050.

The meeting did not produce formal decisions, but Macron did pledge to produce a to-do list with a progress-tracking tool. A 15-page document released shortly after the summit largely builds on calls for action from groups like the World Bank, the International Monetary Fund and others.

South African President Cyril Ramaphosa said at the closing ceremony that African nations were not “beggars”.

“What is important in this new era of the world is that there is a good measure of equality among sovereign nations… We need to demonstrate that Africa should never be seen as a continent that needs generosity. We want to be treated as equals.”

Activists had hoped for a tax on the fossil fuel industry and another on financial transactions, but neither proposal appeared to have much support from richer nations.

Mai Anh (according to AP, CNA)

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