UN climate change group is looking at Robin Hood Tax
One of the things we believe a Robin Hood Tax could do is pay the bill for tackling climate change announced at Copenhagen last December – around $100 bn a year, globally – pretty much exactly a quarter of what the Robin Hood Tax is likely to raise globally. And it seems we’re not the only ones thinking like this. According to a news wire report (you have to subscribe), Sir Nicholas Stern told Ministers on Monday that the UN Secretary-General’s High-level Advisory Group on Climate Change Financing (AGF) is looking at a range of ways of funding the $100 bn a year pledge, including “auctioning of allowances, taxes on carbon in some shape or form, possible taxes on international aviation and maritime, financial transaction taxes and, of course, general public revenue.”
The AGF, which consists of 19 experts and politicians including Britain’s Climate Change Minister Chris Huhne MP (who replaced Gordon Brown on the AGF after the election), and is due to report to the Climate Change Conference (COP 16) in Mexico in December.