The Money’s There But Extracting It Will Be a Challenge?

The world's poorer countries estimate they need 1 trillion dollars a year to enable them to cut their comparatively modest 'greenhouse gas' emissions, as well as to cope with extreme weather events. Most of the emissions are/have been produced by richer nations. The extreme weather events are consequently largely also due to them. Oil Exchange International has calculated that five times this amount per annum, could be found by taxing the rich and cracking down on fossil fuels (https://www.theguardian.com/global-development/2024/sep/24/rich-countries-could-raise-5tn-of-climate-finance-a-year-study-says). They advocate, for example, a levy on shipping and frequent fliers. Brazil has suggested a 2% annual wealth tax on billionaires. The rich, however, are not easily parted fron 'their' money. They like their lavish life-styles. They also have the political influence, to largely avoid having to compensate for their massive emissions.