Launched at COP28 in November 2023, and co-chaired by Barbados, France and Kenya, the Global Solidarity Levies Task Force: For People and the Planet explores feasible, scaleable and sensible options for levies to raise additional resources for climate and development. These levies can be implemented to help the world reach the Sustainable Development Goals and fulfill its Paris Agreement commitments.
The key aims of the task force are to foster political will around options for progressive levies to support climate and development action, and to bring together coalitions of willing countries to become frontrunners for implementing specific progressive levy options.
The task force will help ensure industries and individuals contribute more to financing the fight against climate change, based on the pollution they produce, while bringing equitable climate justice to our current financial system. The task force will consult with experts across disciplines and countries in the Coalition for Solidarity Levies, which supports the task force. All countries and sub-national governments with fiscal autonomy are invited to join the coalition and advocate for their preferred levies.
The task force is also supported by key partner organizations including the IMF, World Bank, UN, UNCTAD, OECD, G20, G24, European Commission, African Union and Coalition of Finance Ministers.
The task force will conclude its work at COP30 in 2025, with an announcement by its co-chairs on options for implementing progressive international levies.
https://solidaritylevies.org/reimagining-global-finance-task-force-launc...
- Levies can raise valuable revenue for governments from undertaxed sectors.
- 16 options for levies on sectors including private jet fuel and cryptocurrency.
- ‘Solidarity levies’ can generate revenues to finance climate and development action from heavily polluting sectors.
30 January 2025, Paris – The Global Solidarity Levies Task Force has today launched an open consultation to gather feedback on innovative straw-man proposals for 16 levies on sectors that are undertaxed and contribute disproportionately more to global carbon emissions.
The task force – which was established by France, Kenya and Barbados – has put forward 16 options for ‘solidarity levies’ for consultation, to invite views on how they can be made to generate finance for climate and development action.
The consultation includes options for levies on:
- Aviation, such as fuel from private jets and international flights, and premium or frequent flyer tickets.
- Cryptocurrency, on transactions, capital gains, and energy used in mining.
- Fossil fuel extraction, excess/windfall profits, and minimum corporate taxation.
- Global shipping emissions (‘Well-to-Wake’).
- Financial transactions, such as a new or enhanced levy on stocks.
- Plastic polymer production.
- International carbon pricing mechanisms through linked or expanded emissions trading schemes and a global carbon price floor.
- High-net-worth individuals.
The consultation, which builds on the momentum from the 2023 Summit for a New Global Financial Pact, Bridgetown Initiative, Nairobi Climate Declaration and COP29, invites input from experts, industry and organizations worldwide.
“We are examining ways to mobilize finance at scale while bringing more climate justice and fairness to our current tax system” said Laurence Tubiana and Ismail Momoniat, Co-Leads of the Task Force Secretariat. “These straw-man proposals bring us one step closer towards that aim as they are designed to generate discussion and refine pathways towards financing solutions for climate and development action.”
Solidarity levies can help restore balance to the global financial system, something which is especially relevant as people worldwide grapple with the rising cost of living. For example, coal, oil, and gas companies produce over 75% of global greenhouse gas emissions, yet the five largest firms alone reported $281 billion in profits over the past two years. Meanwhile, fossil fuel subsidies surged to $7 trillion in 2023, underscoring the misalignment between corporate profits and public costs.
The consultation is open until 28 February 2025 and seeks perspectives from NGOs, academia, industry and stakeholders across sectors. Feedback will inform government dialogue on the levies and help shape solidarity levy proposals, which the task force will put forward for countries and organisations in the Coalition of Solidarity Levies to assess.
The task force will provide updates on its work at the 5th Finance in Common Summit (Cape Town, South Africa), World Bank / IMF Spring Meetings (Washington D.C, USA) and 4th International Conference on Financing for Development (Seville, Spain), before concluding its work at COP30 in Brazil. The ambition is to have a “coalition of the willing” ready to implement a solidarity levy domestically while using revenues to fund climate action, development and access to health globally and domestically.
The levies put forward in the consultation represent the views of the Secretariat to the Global Solidarity Levies Task Force. They do not represent the policy positions of the governments who are members of the Coalition for Solidarity Levies, nor any individuals or partners.
For more details and to participate, visit the consultation.
ENDS
For further information, please contact:
Duncan Moss – communication lead, Global Solidarity Levies Task Force
duncan.moss@solidaritylevies.org
About the Global Solidarity Levies Task Force
The Global Solidarity Levies Task Force is run on behalf of France, Kenya and Barbados. It is responsible for designing proposals for solidarity levies on undertaxed sectors that contribute disproportionately more to global carbon emissions. These solidarity levies can help generate finance for climate and development action. By COP30, it aims to bring together a coalition of the willing ready to implement one or more of these levies.
The task force was formed following the Nairobi Climate Declaration, Paris Pact for People and Planet, and Bridgetown Initiative. Its secretariat will consult with global stakeholders and work with the countries and organisations in the Coalition for Solidarity Levies, to achieve its aims.
