Nairobi, Kenya – Hundreds of volunteers from Greenpeace Africa formed a giant human banner in the shape of the African continent and displayed a printed message Tax the Super-rich for People and Planet to demand urgent tax reform at UN Tax Convention negotiations.
The gathering welcomed negotiations in Nairobi at the UN Tax Convention (UNTC), calling for action to deliver much needed additional public finance for climate mitigation, nature protection and sustainable development by making billionaires and oil and gas corporations pay their fair share in taxes.
Nina Stros, policy expert at Greenpeace International and head of the Greenpeace delegation, said: "The current global tax system is outdated and unjust, allowing the super-rich and polluting oil and gas corporations to profit while avoiding paying their fair share and fuelling the climate crisis through their excessive emissions. This has to change.
"Governments must deliver strong commitments with clear mechanisms to tax polluting billionaires and corporations. These changes will benefit the majority of the world's countries, from the least developed economies to those with high socioeconomic indicators in the Global North. Instead of pursuing a race to the bottom with continuous lowering of corporate tax rates, it's time governments unite to usher in new global tax rules that will finally hold these super rich individuals and polluting corporations to account."
The UNTC's third round of negotiations (INC-3) in Nairobi, 10-19 November, coincides with COP30 in Belém, Brazil, where countries are debating how to bridge the 1.5°C ambition gap, ending forest destruction and who picks up the tab for international climate finance. Tangible plans are urgently needed to deliver on the COP29 finance commitment for developed countries to mobilise at least US $300 billion per year by 2035, and to scale up to at least US$1.3 trillion in public finance in line with needs. The UNTC provides a critical opportunity to unlock the public finance that is required, through increasing taxes on the super-rich and increasing profit taxes on polluting oil and gas corporations.[1]
Fred Njehu, Fair Share Global Political Lead, Greenpeace Africa, said: "The world is not a billionaire's playground, for them to get richer at the expense of our health, security and democracy. Governments must act now to stop the super-rich stashing billions in tax havens, and to put an end to polluting corporations paying too little tax, depriving people of vital public finances. It's time to implement global taxes on billionaires and the profits of oil and gas corporations - and direct these funds to sustainable development, public services, and tackling the climate and ecological crisis."
Murtala Touray, Programme Director at Greenpeace Africa, said: "The tax negotiations in Nairobi come at a pivotal moment to fix a global economic system so that it serves all nations, and not just a few rich countries. The Africa Group initiated this process to forge a new, legally binding UN tax convention that addresses systemic inequalities in global finance and governance. These injustices are preventing many countries of the Global South from raising revenues that could support better public services, climate mitigation and adaptation and nature protection. Africa is calling for a clear path to tax justice - a commitment to sustainable development rooted in fair taxation of corporations and high-net-worth individuals. Because tax justice isn't charity, it's a fundamental right and the essence of our sovereignty."
Key figures:
- It is estimated that countries lose US$492 billion annually because multinational corporations and the ultra-wealthy use tax havens to underpay tax.[2]
- Profit shifting in extractive industries (oil, gas, mining) leads to governments reportedly losing at least US$44 billion per year in tax revenues.[3]
- Oxfam estimates that permanent polluter profits tax on oil and gas corporations could raise up to US$400 billion in its first year. [4]
- Reported profits from just five international oil and gas giants over the last decade reached almost US$800 billion, and half of the world's CO2 emissions reportedly come from just 36 fossil fuel firms.[5][6]
- A tax of up to 5% on multimillionaires and billionaires could generate US$1.7 trillion a year, according to Oxfam.[7]
Greenpeace's demands for negotiators at INC-3 are:
- Effective taxation of High Net Worth Individuals (HNWIs): Introduce and implement progressively higher rates for billionaires with revenues earmarked for sustainable development and investment in public services as well as direct climate and nature investments.
- Progressive environmental taxation: Secure a commitment for international cooperation to deliver progressive environmental taxation in line with the polluter pays principle and Common but Differentiated Responsibilities and Respective Capabilities (CBDR-RC), covering both polluting corporations and HNWIs, to unlock more public finance for climate action and sustainable development.
- Polluter tax on fossil fuel company profits: Tax the global profits of multinational oil, coal, and gas and other polluting companies, directing revenues to multilateral climate funds, so that the communities who are most vulnerable and least responsible for climate damages get the support they deserve.
A Greenpeace delegation participated in the first two consecutive rounds of global tax talks in August in New York (INC-1 & 2), and will be present at INC-3 in Nairobi, Kenya.
