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UN proposes taxes for benefits of energy companies | International

The record profits generated by high gas and coal prices as a result of the war in Ukraine are “immoral”, denounced this Wednesday the Secretary General of the UN, Antonio Guterres, who called for “extraordinary taxes” on those profits.

“It is immoral that oil and gas companies are reaping record profits from this energy crisis at the expense of the poorest people and communities,” which they also have a “huge cost to the climate”Guterres said on the occasion of the publication of the report “Global Impact of the War in Ukraine: the energy crisis”, prepared by the Global Crisis Response Group (GCRG).

“I urge people around the world to send a clear message to the fossil energy industry and its financiers: this grotesque greed is punishing the poorest and most vulnerable while destroying our home,” Guterres said.

Only in the first quarter of the year said benefits amounted to nearly $100 billionrecalled the UN chief, for which he urged “all governments to tax these excessive profits” and to use funds to support the most vulnerable.

And it is that the “meaningless” war in Ukraine not only has it destroyed “millions of lives” or has put them on hold, but is having a “massive, multidimensional impact” on the worldgenerating a food, energy and financial crisis, particularly in developing countries that were struggling to overcome the devastating effects of the covid-19 pandemic.

“We must do everything in our power to end (the conflict) through a negotiated settlement“, he urged.

The GCRG report published this Wednesday makes a series of recommendations, which in the mouth of Guterres, they intend to achieve in the energy field the equivalent of the agreement for the export of Ukrainian cerealsachieved between Russia and Ukraine and Turkey under UN supervision.

The authors call on developed countries, major energy consumers, to reduce demand, combat waste, accelerate the transition to renewable energy.

Both private and multilateral investors are asked to accelerate investments for the green energy transition, which would also allow safeguarding the objectives of the Paris Agreement to contain climate warming.

“Undertake the right energy policies should not be a luxury available only to those who can afford it“, say the authors of the report that warn that “the world is facing a crisis that occurs once in a generation”.

“World leaders and institutions must recognize and rise to the urgency of the moment“, they conclude.

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