Climate campaigners under the Make Polluters Pay Coalition have appealed to governments worldwide to introduce stronger and permanent taxes on fossil fuel companies’ earnings, while supporting ongoing United Nations discussions on global taxation.
The demand was made on Monday as the world continues to experience worsening climate-related challenges, including extreme heat, wildfires and increasing living costs.
In a statement, the coalition criticised major oil and gas companies for recording huge profits despite the devastating effects of climate change. It noted that companies such as BP, Chevron, ExxonMobil, Shell and TotalEnergies had continued to generate billions of dollars in profits while communities faced climate disasters.
The group referenced recent heatwaves and wildfires in countries including the United Kingdom, the United States, Spain and France, arguing that emissions from the five companies contributed significantly to global warming trends between 2000 and 2023.
According to the coalition, the companies recorded more than $40 billion in combined profits in the latest quarter, a figure it described as larger than the economies of more than 100 countries. It said the profits were being made while many people struggled with rising energy costs and the consequences of climate-related disruptions.
“Big Oil has spent decades benefiting from pollution while ordinary people bear the consequences through heatwaves, wildfires and unaffordable energy bills,” David Hillman, a representative of Stamp Out Poverty, said.
Hillman urged governments attending the upcoming UN tax negotiations in New York to take action by ensuring fossil fuel companies contribute more towards addressing the climate crisis.
Also speaking, Anne Jellema, executive director of 350.org, said communities across different parts of the world were suffering the effects of delayed climate action while fossil fuel firms continued to enjoy record-breaking profits.
She described the situation as a system that required urgent reform, adding that governments had an opportunity through the UN tax talks to change the current arrangement.
The Make Polluters Pay Coalition maintained that increased taxation on oil and gas profits would provide funding for emergency climate responses, recovery efforts and long-term support for communities most affected by environmental crises.