New search By changing international oil, entitled We can pay for itIt is calculated that the global northern countries can collect $ 6.6 trillion annually in public funds if they impose taxes on severe wealth, and give up fossil fuel subsidies and the global financial rules that have been reformed. This number rose nearly a quarter of last year’s estimate of $ 5.3 trillion.

The results reached by the group of invitation, which is based in Washington, where many Asian countries are struggling to finance energy transmission, with an annual climate financing shortage of more than 800 billion US dollars in developing Asia, according to the International Monetary Fund.

“The global south is calling for trillion, not billions of billions, in climate financing. This research shows that it is possible – if the rich countries choose to act,” the report said.

The report found that the most influential way for the global north of climate fund collection is through the gradual wealth tax, which can generate 3.5 trillion US dollars per year – more than half the total calculated in the report. The best way is to finish fossil fuel subsidies and exploration of tax oil and gas, which may collect $ 1.1 trillion.

The cutting of the military budgets, which have been inflated in Europe since Russia’s invasion of Ukraine, was also martyred as a way to increase climate financing, although possible revenue was much lower, by about 280 billion US dollars.

It argues that international oil changes that these measures will begin to reflect the “massive wealth transfer” to billionaires, fossil fuel majors and defense contractors – who collectively gained an estimated 40 trillion dollars of new wealth during the past decade. The richest 1 percent of people occupied at least $ 42 trillion from a new wealth from 2015 to 2025, while fossil fuel companies have published record returns.

“The data exposes the lie that sustains the executives of fossil fuel, billionaires, and War Hawks that we cannot pay for climate work.”

She added that countries such as Canada, Australia and the United Kingdom must support the global southern proposals for debt reform and the US -led tax rule, which will be on the agenda of the United Nations General Assembly for this year.

cancellation The report discovers that public debt payments for low and medium -income countries can liberate $ 142 billion a year.

“This agenda will free trillion funds every year to meet urgent needs such as renewable energy, affordable housing, comprehensive health care, and climate disaster treatment,” said Taker. “The barrier is not money – it is a political will.”

The poor Asian countries, which are among the most climatic climates in the world, are in urgent need of climate financing, which have not been less than what the rich countries promised in a pledge presented in COP28 to finance “fair transition” away from fossil fuels. US Retreat He put more pressure on climate boxes dedicated to Asia’s development.

The region is home to some of the largest beneficiaries of multilateral climate financing, as well as some of the largest fossil fuel support systems. Indonesia, India, and China together spent more than $ 250 billion in supporting fossil fuels in 2023, according to the International Energy Agency. Meanwhile, Singapore faced criticism of the carbon tax that The main trouble gives heavy discounts.