SHOULD THE BIG POLLUTERS PAY MORE TOWARDS THE CLIMATE.

The richest 1% of people in the world are responsible for more greenhouse gas emissions than the 66% at the other end of the scale, yet they experience little of the vulnerability to climate shocks that are causing suffering and death, mainly among poorer people. Rich individuals in all countries must pay more to tackle the climate crisis, whether through taxes or charges on consumption, one of the architects of the Paris agreement has said. There is a growing consensus on the need for some kind of global wealth tax, with Brazil, which will host the Cop climate summit next year, an enthusiastic supporter. Meanwhile, poor countries are struggling to raise the estimated $1tn (£785bn) a year of external finance needed to help them cut emissions and cope with the impacts of the climate crisis. Another proposal is for a frequent flyer levy, as the richest people tend to take far more flights – in any year about half of the people in the UK do not fly, for instance. Laurence Tubiana, the chief executive of the European Climate Foundation, said a levy could be targeted at business class and first class seats. Other possible sources of revenue include a carbon tax on international shipping, which could raise billions without disrupting global trade, according to research from the World Bank. Levies on fossil fuels could also play a role. Would an extra 10% on a luxury mansion, Ferrari or Rolls Royce really affect the wallets of millionaires. As George Michael said once on Parkinson “nobody really needs more than 5 million pounds” !!!