Schwank noted that wealthy nations like the U.S. would bear the biggest burden based on the “polluters pay principle.” The U.S. and other wealthy nations need to “contribute significantly more to this global fund,” Schwank explained. He also added, “It is very essential to tax coal.”


The tens of billions of dollars per year generated by a global tax would “flow into a global Multilateral Adaptation Fund” to help nations cope with global warming, according to the report.


‘Redistribution of wealth’

The environmental group Friends of the Earth advocated the transfer of money from rich to poor nations during the 2007 UN climate conference.

“A climate change response must have at its...

Schwank noted that wealthy nations like the U.S. would bear the biggest burden based on the “polluters pay principle.” The U.S. and other wealthy nations need to “contribute significantly more to this global fund,” Schwank explained. He also added, “It is very essential to tax coal.”


The tens of billions of dollars per year generated by a global tax would “flow into a global Multilateral Adaptation Fund” to help nations cope with global warming, according to the report.


‘Redistribution of wealth’

The environmental group Friends of the Earth advocated the transfer of money from rich to poor nations during the 2007 UN climate conference.

“A climate change response must have at its heart a redistribution of wealth and resources,” said Emma Brindal, a climate justice campaigner coordinator for Friends of the Earth.


[Editor's Note: Many critics have often charged that proposed climate tax and regulatory “solutions” were more important to the promoters of man-made climate fears than the accuracy of their science. Former Colorado Senator Tim Wirth reportedly said, "We've got to ride the global warming issue. Even if the theory of global warming is wrong, we will be doing the right thing — in terms of economic policy and environmental policy."]

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