Mr Romaric Houdou Samson, Monitoring, Evaluation and Learning (MEL) Manager, Greenpeace Africa, says the Organisation for Economic Cooperation and Development (OECD) must introduce a Climate Damages Tax (CDT) for climate finance.
He said that could generate $900 billion by 2030, starting in 2024 at a low initial rate of $5 per tonne of carbon dioxide equivalent (CO2e), increasing by $5 per tonne each year to address climate goals.
Mr Samson was speaking at a press conference as part of the Global Week of Action on Climate Finance, organised by Greenpeace Africa in collaboration with Pro Environment Africa and other stakeholders in Accra.
The Global Week of Action on Climate Finance was under the theme, "Unlocking Climate Finance for Africa." He said CDT could generate funds specifically earmarked for climate adaptation and mitigation projects which could support vulnerable communities and enhance resilience against climate impacts. "By taxing activities that contribute to climate damages, the OECD can hold polluters accountable, which will encourage companies and countries to adopt more sustainable practices and reduce greenhouse gas emissions (GHG)," he added.