According to the new Climate Damages Tax report, introducing a fossil fuel tax on companies in the richest countries in the world could generate hundreds of billions to aid the most vulnerable nations in coping with the climate crisis.

The impacts of climate change disproportionately affect poorer nations that have contributed to it the least.

“Climate change is a war. A category five hurricane releases energy equivalent to 10,000 times the nuclear bomb dropped on Hiroshima in 1945. Those countries on the path of hurricanes and cyclones and submerging coasts are on the front line,” wrote Avinash Persaud, special envoy on investment and finances to the prime minister of Barbados, in the preface to the report. “Climate change is not a freak of nature. It […]