Former world leaders call for fossil fuel taxes to fund global climate action

In an open letter published Tuesday, 36 former presidents and prime ministers representing everywhere from Sweden to the Seychelles urged governments to adopt “polluter profit taxes” that would hold oil, gas and coal companies financially accountable for the damage caused by their emissions. The group, organised by the Club de Madrid, said these taxes are necessary to accelerate the shift to renewable energy and provide funds for the people hit hardest by climate disasters worldwide.