Small island nations suffering the brunt of climate change want Big Oil to pay for mounting damage from ocean storms and sea-level rise, Antigua's prime minister told delegates at the COP27 climate summit in Egypt on Tuesday.
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Small island states already buffeted by increasingly violent ocean storms and sea-level rise called on oil companies to shell out some of their huge recent profits, while developing African states called for more international funds. "It is about time that these companies are made to pay a global carbon tax on their profits as a source of funding for loss and damage," he said. "While they are profiting, the planet is burning."in international climate negotiations between rich and poor states, as delegates attended the second full day of the two-week conference in the seaside resort town of Sharm el-Sheikh.
"Let's be clear, we are in favor of reduction of greenhouse gas emissions. But we Africans cannot accept that our vital interests be ignored," he said.Sri Lanka's president, Ranil Wickremesinghe, said Western governments were quick to divert billions of dollars to the war in Ukraine, but slow to spend on climate change.
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