G20 Finance Ministers have supported an historic call from the Brazil presidency to adopt more effective taxation of the world's super-rich.
In response, Marilia Monteiro Silva, Senior Campaign Strategist, Greenpeace International said:
"This is an important milestone for the G20, recognising for the first time the need to tax the super-rich and tackle the injustice of inequality. This is a strong signal of change, but the work is not done and the next step is to support the creation of a UN Framework Convention on International Tax Cooperation.
"The UN mandate will ensure a framework convention that is transparent and democratic and that all the member states have a say on decision-making on an equal footing.
"We're facing a polycrisis of climate change, ecosystem collapse and social injustice and a solution can be found in international cooperation and the adoption of domestic wealth taxes.
"There's enough money to solve the challenges of our time, but governments have been looking in the wrong place. An economic system that values profit before people and nature is sowing the seeds of destruction, but taxing the rich will reduce inequality and help fund climate action.
"The current financial architecture that concentrates power and wealth on the back of extraction, exploitation, pollution and destruction must come to an end. Our future relies on it."
Camila Jardim, International Politics Specialist, Greenpeace Brazil said:
"This is the first step for a shift in the global economy towards a more just and sustainable world. We welcome Brazil's initiative to bring it to the table and work to build consensus around such a crucial issue. We often hear there is not enough money to solve the climate crisis, which is set to cost trillions of dollars every year. But taxing the super-rich can start to show there is more than enough money – it just needs to be channeled away from destruction.
"Taxes should be a fair contribution to the provision of public services for all. The big polluters – which includes the super-rich – must stop evading taxes and start paying for the climate crisis.
"Our governments have shown that we already have the technology to correct the injustices of our time in a coordinated manner without jeopardising anyone's economy and creating fiscal space for greater climate action. Now it is time to take action."
