Martin Lewis says government must double energy bill help for poorest
GuardianMAR 28 2022
A large portion of people vulnerable to climate change, roughly 3.5B people, are located in the global south. Calls for wealthier nations to pay up are getting louder. Types of reparations can include apologies, compensation, and legislation to ensure that the harm ends and will not be repeated. Impacted nations are rightfully demanding that the exploitation end and a period of healing begins.
Despite the understandable intent, calls for a windfall tax on energy-producing companies will damage the global economy. It's not a good move to penalize entities to stimulate economic growth. A better approach would be for all nations to invest in renewable and climate-friendly energy infrastructure - this would protect the environment while building green energy deliberately over time.