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Climate campaigners and civil society organizations in the Philippines protest in the business district of Makati City on September 8, 2023. The environmentalists joined Asia-wide mobilizations on the occasion of the G20 Leaders' Summit in New Delhi to call on wealthy nations to lead the switch to renewable energy sources, away from funding fossil fuel projects. Jonathan Cellona, ABS-CBN News

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G20-ENVIRONMENT

Agence France-Presse

<div><span class="fr-img-caption fr-fic fr-dib" style="width:950px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/172195461841220230908-G20-environment-protest-JC-1362.jpg" style="width:950px" class="fr-fic fr-dib"/><span class="fr-inner" style="text-align:left"><span id="isPasted" style="color:rgb(51, 51, 51);letter-spacing:normal;orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:pre-wrap;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none">Climate campaigners and civil society organizations in the Philippines protest in the business district of Makati City on September 8, 2023. The environmentalists joined Asia-wide mobilizations on the occasion of the G20 Leaders&#x27; Summit in New Delhi to call on wealthy nations to lead the switch to renewable energy sources, away from funding fossil fuel projects. <em>Jonathan Cellona, ABS-CBN News</em></span></span></span></span></div><p>RIO DE JANEIRO -- Brazil&#x27;s vision for a global deal to tax the ultra-rich sparked divisions Thursday at a meeting of G20 finance ministers in Rio de Janeiro, where Washington dismissed the need for an international accord on the matter.</p><div><a href="https://news.abs-cbn.com/business/2024/7/25/world-s-richest-1-pct-gained-40-trillion-in-a-decade-oxfam-832">World&#x27;s richest 1 percent gained $40 trillion in a decade: Oxfam</a></div><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">The initative, which was discussed at an afternoon meeting, is a key priority of Brazil&#x27;s leftist president, Luiz Inacio Lula da Silva, who this year heads the G20 grouping of the world&#x27;s major economies, the European Union and the African Union.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">Even before talks began, US Treasury Secretary Janet Yellen dampened the mood by saying there was no need for a global agreement on taxing billionaires.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">&quot;Tax policy is very difficult to coordinate globally,&quot; she told journalists. &quot;We think that all countries should make sure that their taxation systems are fair and progressive.&quot;</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">However, those backing the plan saw having it on the agenda as a key first step.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">After the meeting, Brazil&#x27;s Economy Minister Fernando Haddad expressed his confidence in the initiative, and said a final &quot;declaration&quot; to be published Friday would mark a &quot;first step.&quot;</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">This communique will take up the &quot;Brazilian proposal to start looking at international taxation, not only from the point of view of companies, but also from the point of view of individuals called the super-rich.&quot;</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">One participant at the meeting, speaking on condition of anonymity, told AFP: &quot;There is no consensus today to create a global tax on the capital of multimillionaires.&quot;</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">&quot;The idea is to have the theme on the agenda and the first steps discussed.&quot;</p><div><strong>&#x27;Irrelevant&#x27;</strong></div><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">Brazil&#x27;s search for a global agreement on taxing the richest of the rich is backed by France, Spain, South Africa, Colombia and the African Union.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">&quot;Some individuals control more resources than entire countries,&quot; Lula said Wednesday at the launch of an initiative to fight world hunger, another project topping his G20 agenda.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">Haddad told local media Wednesday that taxing billionaires would help finance the fight against hunger.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">Global inequality has continued to widen in recent years, according to a study by the non-governmental organization Oxfam published Thursday.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">The richest one percent of the world have earned more than $40 trillion in a decade, but their taxation is at &quot;historically&quot; low rates, the study said.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">French economist Gabriel Zucman, a consultant with the G20 on taxation issues, estimates that the tax rate for billionaires represents 0.3 percent of their wealth.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">Washington is not the only skeptic.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">On the eve of the G20 meeting, Germany&#x27;s finance ministry said it considers the idea of a minimum wealth tax to be &quot;irrelevant.&quot;</p><div><strong>Divisions over Ukraine, Gaza </strong></div><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">The meeting of finance ministers in Rio opened with a session on the global economy, as inflation slows in many parts of the world after a surge fuelled by the war in Ukraine and other factors.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">On Friday, the ministers will tackle the financing of the climate transition and debt in their last meeting before a G20 summit on November 18 and 19.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">Founded in 1999, the Group of 20 assembles 19 of the world&#x27;s largest economic powers, as well as the European Union and the African Union.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">The organization was originally focused on global economic issues but has increasingly taken on other pressing challenges -- even though member states do not always agree on what should be on the agenda.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">Brazil&#x27;s presidency said in a statement that member states were divided over whether crises such as the conflicts in Ukraine and Gaza should be addressed at the G20.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">Divisions within the G20, of which Russia is also a member, have made drafting a joint communique at the outcome of meetings a challenge.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">The last meeting of finance ministers in Sao Paulo failed to issue such a statement.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">Brazil hopes to publish three texts after the meeting, said Tatiana Rosito, a senior official at the country&#x27;s economy ministry.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">Aside from a joint final communique, this would include a document on &quot;international cooperation in tax matters&quot; and a separate communique from Brazil on geopolitical crises.</p><div><strong>RELATED STORY: </strong></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/SXXISIRcjQ4?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div>

<p>Brazil's vision for a global deal to tax the ultra-rich sparked divisions Thursday at a meeting of G20 finance ministers in Rio de Janeiro, where Washington dismissed the need for an international accord on the matter.</p>

Brazil's vision for a global deal to tax the ultra-rich sparked divisions Thursday at a meeting of G20 finance ministers in Rio de Janeiro, where Washington dismissed the need for an international accord on the matter.

Plan to tax super-rich divides at G20 meet in Rio

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Plan to tax super-rich divides at G20 meet in Rio

Agence France-Presse

Published Jul 26, 2024 08:50 AM PHT

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