Solidarity levies to help tackle climate crisis

Prime Minister Mia Amor Mottley is among world leaders pledging action on climate finance, by launching a new Coalition for Solidarity Levies. The launch came at the ongoing UN Climate Change Conference of Parties or COP29 in Azerbaijan. The new coalition, comprised of 16 countries, is spearheaded by France, Kenya and Barbados. It aims to secure sustainable funding for climate action, by establishing levies on carbon-intensive industries, based on the polluter pays principle. Ms. Mottley acknowledged progress has been made over the past few years, but however, noted it is not enough. She says levies on shipping, aviation and fossil fuel extraction, could raise a combined 350 billion dollars a year and a 0.1% levy on all stock and bond trades could raise 418 billion a year. Subscribe to CBC News: cbcbarbados Connect with the CBC News Barbados Website: https://www.cbc.bb/ Facebook: https://www.facebook.com/CBCNews.bb/ Instagram: https://www.instagram.com/cbcnewsbarb... Twitter: https://twitter.com/CBCBARBADOS #CBCTV8 #CBCNewsNight #ThisIsWhoWeAre