International taxation to scale up development and climate action

13:45-14:45

Room 2

Friday 10 November 2023

Roundtable

International taxation to scale up development and climate action

Addressing inequalities and accelerating SDGs

(Session co-organized with Europe Climate Foundation). There is an urgent need to mobilize new, additional, predictable and adequate financial resources – in addition to current commitments – to support developing and vulnerable countries transition to a low carbon and nature positive economy, while addressing the adverse effects of climate change, including loss and damages, as well as global inequalities. International taxation can provide additional financial resources to support just and equitable transitions, while addressing inequalities and correcting some of the inequities of our current financial system. Both the Paris Pact for People and the Planet and the Nairobi Declaration call for the adoption of new taxation measures to finance development and climate action, but more political will is needed to drive this ambition forward. This session will gather high level leaders, experts and civil society organizations around the objective to foster political will and momentum on international taxation options, such as levies on international shipping and aviation, taxes on fossil fuel production, trade or revenues, and taxes on financial transactions, as well as other options.