G20 vows taxing global rich to mitigate climate disaster risk
MANAMA, July 31, 2024
The importance of financing for resilient infrastructure and early disaster risk warnings was the central theme of the first face-to-face meeting of the G20 Disaster Risk Reduction Working Group (DRRWG) which took place in Rio de Janeiro, the host city for this year's G20 summit.
According to Agência Brasil, the group discussed the possibility of allocating part of the revenue generated from implementing a wealth tax to help reduce disaster risk.
The G20 is composed of 19 countries from five continents (South Africa, Germany, Saudi Arabia, Argentina, Australia, Brazil, Canada, China, South Korea, US, France, India, Indonesia, Italy, Japan, Mexico, the United Kingdom, Russia and Turkey), as well as the European Union and the African Union.
The group represents two-thirds of the world's population, about 85% of global GDP, and 75% of international trade.
Since December last year, Brazil has assumed the G20 presidency for the first time and has prioritised topics, such as global governance reform, the three dimensions of sustainable development (economic, social, and environmental), and the fight against hunger, poverty, and inequality.
Brazilian Minister of Integration and Regional Development Waldez Góes, who participated in the group's opening ceremony, said civil protection and defence actions require resources, especially for recovery and prevention.
"We support taxing great fortunes, the richest worldwide, and allocating part of the resources to this agenda," he stated.
Góes pointed out that Brazil had more than 10 million people living in areas of high or very high risk of natural disasters.
The Brazilian Minister further mentioned that the world was facing a testing situation that requires a collective effort from the international community.
"Given the current global challenges, associated with the adverse events of climate change, the group is dealing with an urgent issue for all countries. The matter demands very coordinated and effective international cooperation," he added.-TradeArabia News Service
