Full report: "Who pays the real costs of big oil, coal and gas?"
The worst impacts of climate change - those that go beyond people’s ability to cope and adapt - are known as “Loss and Damage.” Loss and damage includes extreme events, like droughts and tropical storms, and slow-onset events like sea-level rise, increasing temperatures, glacial retreat causing flooding and eventual drought, and desertification. The single biggest cause of climate change is burning fossil fuels. The Carbon Majors - who include big coal, oil and gas - have extracted fossil fuels responsible for roughly two thirds of climate change pollution. Right now, the poorest and most vulnerable communities are paying for loss and damage - with their lives, their homes, their ability to grow food, while big coal, oil and gas make huge profits from selling the products responsible for causing climate change. To help address this injustice, we propose a Carbon Levy - a global levy on all fossil fuel extraction ,to be paid into an international Loss and Damage Mechanism to help the most vulnerable facing the worst impacts of climate change...