A wealth tax could help poorer countries tackle climate crisis, economists say

Taxing world’s wealthiest people could help poorer countries shift economies to low-carbon and recover from climate damage

Tax extreme wealth to pay for the climate-related damage to the poorest, a group of more than 100 leading economists have urged.

A wealth tax on the fortunes of the world’s richest people would raise trillions of dollars that could be spent on helping poorer countries shift their economies to a low-carbon footing, and on “loss and damage”, the rescue and rehabilitation of countries stricken by climate disaster.