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 brings member countries together to explore feasible, scalable and sensible options for climate levies. These levies can be implemented to help the world fulfill Paris Agreement commitments.

The key aim of the task force is 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 front runners for implementing specific progressive levy options.

The task force will help ensure all industries and people 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 is open to participation from countries around the world, and will consult with experts across disciplines.

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.

Areas of inquiry

The Global Solidarity Levies Task Force: For People and the Planet is mandated to explore the impact of a range of levies to finance development, nature and the fight against climate change, including:

Fossil Fuel Levy or Carbon Damages Levy

Windfall Fossil Fuel Profits

Financial Transactions

Fossil Fuel Subsidy Phase Out

Private Air Passenger Levy

Maritime Fuel Levy

Our Story

The case for a new levy task force on climate and development finance has been building steadily in recent years.

In June 2023, participants at the Summit for a New Global Financial Pact in Paris issued a political declaration calling for further work to explore “new avenues for international taxation”, and proposed a task force to take on the work.

The Africa Climate Summit in September 2023 endorsed the African Leaders Nairobi Declaration on Climate Change, calling for a global carbon levy on fossil fuel trade, maritime transport, and aviation, as well as a global financial transaction levy and a Global Finance Charter to support climate-positive investments, making the need for a task force even more urgent.

President Ruto of Kenya and President Macron of France decided to launch the Global Solidarity Levies Task Force at COP28 in November 2023, with the crucial support of Prime Minister Mottley from Barbados, who joined them as a co-chair of the initiative.

Today, the task force has members from all around the globe. It works to advance political will and create coalitions of the willing to become front runners on progressive levy options.

Expert Group

Pascal Saint Amans

Professor of Taxes at Lausanne University and partner at the Brunswick group

Vera Songwe

Chair and founder of Liquidity and Sustainability Facility & Co- Chair of High-Level Expert Panel on Climate Finance

Amar Bhattacharya

Senior fellow, Center for Sustainable Development, Global Economy and Development program at Brookings

Dora Benedek

Deputy Division Chief at the Tax policy division of the Fiscal Affairs Department of the International Monetary Fund

Luiz Awazu Pereira

Marilou Uy

Non-Resident Senior Fellow for the Global Economic Governance

Attiya Waris

Associate professor, Commercial Law Department, School of Law

Fadhel Kaboub

Associate professor of economics at Denison University, and President of the Global Institute for Sustainable Prosperity

Jeromin Zetellmeyer

Director of Bruegel

Logan Worth

Executive Secretary, African Tax Administration Forum

Ramy Youssef Mohamed

Chair to the Ad Hoc Committee to Draft Terms of Reference for a United Nations Framework Convention on International Tax Cooperation

Michael Keen

Ushioda Fellow, Tokyo College – University of Tokyo, Senior fellow Ferdi. Former Deputy Director of the Public Finance Department, International Monetary Fund

Kurt Van Dender

Acting Head of the Tax Policy and Statistics Division, OECD

Muhammad Imran Khan

Senior Program Manager – UNSG Climate Action team, UN

Frequently Asked Questions

What is the Global Solidarity Levies Task Force: For People and the Planet?

The Global Solidarity Levies Task Force is a hub for coalitions of countries to come together to explore how to implement progressive levy options to generate new sources of urgently-needed climate and development finance.

Which countries are members of the taskforce?

  • Co-chairs: France, Kenya, and Barbados
    Members: Antigua & Barbuda, Senegal, Spain, Marshall Islands, and Colombia
  • Observers: European Commission, IMF, OECD and UN

When was the task force launched?

The task force was officially launched at COP28 in Dubai in 2023 by France, Kenya, and Barbados.

What does the task force aim to achieve?

The task force will focus on fostering political will and creating coalitions of willing countries to advance various options for international levies.

It will look at options that have the potential to mobilize finance at scale while bringing more climate justice and fairness to our current financial system, by ensuring the most polluting industries (fossil fuel extraction, aviation, shipping and financial services) and people contribute to financing the fight against climate change and inequalities.

Why are global climate levies needed?

By 2030, developing countries excluding China must mobilize USD $2.4 trillion of public revenues each year to ensure they remain on track to meet the objectives of the Paris Agreement. Implementing global climate levies would provide a sustainable and predictable source of revenue to support their transition, and that is why this initiative can play a crucial role in a just transition to net zero.

Why now?

We must ensure that our global financial system better reflects the current needs of society, rather than those rooted in the mid-20th century when it was first established. Many heavily polluting industries have been historically protected from taxes and haven’t paid their fair share in our collective work to transition to a net-zero economy. We are providing them with a means and opportunity to do so.

What sectors are being considered as targets for levies?

Target sectors could include major contributors to greenhouse gas emissions, such as oil and gas companies, heavy industries, aviation, and maritime shipping, as well as the financial sector.

Have similar initiatives been tried before and succeeded?

There is the precedent of the Unitaid airline levy, where countries from around the world (such as Mali, Mauritius, Chile, Brazil, Korea and France) have been using the proceeds to fill a particular gap in global health spending (paying for a mechanism to squash drug prices). On average, low-income countries that participate in this airline levy scheme receive 10 times more than what they pay into it. For this reason, many NGOs and think tanks that support the V20 and the Bridgetown Initiative are also supporting the Global Solidarity Levies Task Force.

How are the members of the task force picked?

There are no specific criteria to join the task force. Countries joining only have to show that they are politically willing to support one or several of the levy options put on the table and be willing to help push the levy agenda whenever possible to adopt these new levies in a fair and equitable way that will raise as many additional resources as possible.

What are the potential revenue streams that could be raised from each one of the international levies?

The potential revenue will be explored in detail in a rigorous research and consultation phase, and through specific impact studies into each levy option.

Existing research has shown that levies could raise:

  • Financial Transaction Levy: a 0.1% levy on the trading of stocks and bonds could deliver up to $418 bn per year on a global level (WIFO 2019 study).
  • Levy on aviation: an aviation levy could raise up to $150 bn per year on a global scale (CAN-Europe 2023).
  • Levy on maritime shipping: a levy of $150/ton C02 would raise up to $80bn for a year (IDDRI 2023 and one of the official proposals).
  • Fossil fuel levy:
    • A fossil fuel extraction levy of $5/ton C02 would raise $210 bn per year rising to an average of $300bn per year by 2050 – assuming significant reduction in demand and an increase of the levy rate of $10 per ton annually to reach $250 a ton by 2050 (Stamp Out Poverty 2023).
    • A levy on windfall profits of 10% would have raised $300 bn in 2022 as net income for fossil fuel producers in 2022 was $4 trillion with an implied windfall profit of $3 trillion globally (World Energy Investment 2023).

What is the European Climate Foundation’s role in the task force?

ECF manages the Secretariat of the Global Solidarity Levies Task Force to support the country co-chairs and members.

The Secretariat is co-led by Laurence Tubiana and another high-level figure from another region.

Impact Studies

On 17 April, the task force launched impact studies to look at specific levies to carefully consider their potential based on the following criteria:

Revenue collected and how they will be used, to ensure revenues are adequate to needs and allocated to climate-positive investments, adaptation projects, and assisting developing nations in their climate efforts.

National and international equity, to ensure the most polluting industries and individuals contribute while ensuring fairness and avoiding a disproportionate impact on vulnerable economies.

The economic impact: a robust global climate levy should be designed to effectively create an incentive to curb carbon emissions while ensuring political feasibility, minimum distortive effect and fairness.

The scalability of the instrument; to ensure new countries can easily join the first joiners political feasibility, to explore the easiest options to implement the options.

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