Robin Hood Tax, Not Corporate Greed, Should be Focus of Climate Finance Meetings, Say Activists
April 11, 2013 · By Lacy MacAuley and Janet Redman
Chanting, "Human need, not corporate greed! Robin Hood Tax now!" protesters dressed as polar bears, farmers, and bankers engaged with officials entering the meeting to urge them to support a Robin Hood Tax.
IPS joined other members of the U.S. Robin Hood Tax campaign in Washington DC, where officials from the finance and climate ministries of select developed countries met to discuss how to mobilize private sector investment in developing countries to address climate change. Chanting, "Human need, not corporate greed! Robin Hood Tax now!" protesters dressed as polar bears, farmers, and bankers engaged with officials entering the meeting to urge them to support a Robin Hood Tax.
This demonstration drew attention to the fact that trillions of dollars of public money have been spent to bail out Wall Street while government officials pay short shrift to untapped and extremely promising innovative sources of public money like a Robin Hood Tax. In doing so, officials risk putting corporate profits over the needs of climate-impacted people.
Both the financial crisis and the recession have left a massive hole in public finances, threatening job creation, community services, and the ability to address climate change. While Wall Street has already bounced back, ordinary people are still trying to recover from problems caused by corporate abuse in the financial sector. The Robin Hood Tax calls for the institution of a small tax of less than half of one percent on Wall Street transactions in order to generate many billions of dollars each year toward crucial public goods and services, like healthcare, education, and helping the world’s poor confront the climate crisis.
VIEW RECENT ARTICLE ON CLIMATE FINANCE BY JANET REDMAN: http://www.fpif.org/articles/wall_streets_climate_finance_bonanza
Former IPS Media Manager
- United Nations
- climate change
- climate justice
- climate finance
- Climate Justice Now
- Green Climate Fund
- World Bank Energy Lending Still Veering in Wrong Direction
April 11, 2014
- Talking Points: Tensions Rising, Wars Escalating, Occupations Expanding
April 4, 2014
- White House Says Raising Tipped Wage Helps Women
March 27, 2014
- The Budget Wars: The Congressional Progressive Caucus is Ready for Paul Ryan
March 12, 2014