International Catholic Development Alliance endorses Robin Hood Tax
International Catholic development alliance CIDSE has published a review of a financial transaction tax estimating that as much as €465 billion or $635 billion could be raised each year from a 0.05% financial transaction tax. This is vital funding for climate change, as the UN works towards the creation of a new fund.
“The fight against climate change is one of the global challenges governments continue to fail to stump up the money for. In decades of international climate negotiations money has proven an important stumbling block. Last December in Cancun, governments agreed to create a Green Climate Fund in the United Nations, which is to receive and distribute up to €70 billion (US$ 100 billion) a year from 2020, but nobody knows yet where this money is going to come from. In times of austerity, governments are reluctant about climate action weighing on their national budgets.”
Check out the full report here. Catholic groups participated in ‘tea time’ meetings with UK Members of Parliament to lobby for Robin Hood Tax at the G20. Their story can be read from the Catholic Independent News or online.
