abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthC4067174-3DD9-4B9E-AD64-284FDAAE6338@1xinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapeline, chart, up, arrow, graphLinkedInlocationmap-pinminusnewsorganisationotheroverviewpluspreviewArtboard 185profilerefreshIconnewssearchsecurityPathStock downStock steadyStock uptagticktooltiptwitteruniversalityweb
Article

10 Dec 2015

Author:
Henner Weithoener, Climate News Network (UK)

Carbon levy mooted for big fossil fuel firms

Big Oil…could before long face paying for the carbon contained in the fuel they sell…A 2013 report said almost two-thirds of the main greenhouse gas going into the atmosphere, carbon dioxide, came from the fuels produced by a mere 90 companies…Now the Climate Justice Programme and the Heinrich Boell Foundation are urging that producers should pay a carbon levy on all fossil fuel extraction and mining, with the proceeds going to help pay poorer countries for adapting to climate change and meeting the costs of its impacts…The levy would be applied to both the exploitation and the burning of fossil fuels…“Our proposal draws from precedents such as the International Oil Pollution Compensation Funds, the oil spill compensation regime which collects levies from companies that ship oil internationally which are used as compensation after oil spills”, said Julie-Anne Richards…[Also refers to BP, Chevron, ExxonMobil, Gazprom, Saudi Aramco, and Shell.]