Use higher GST on coal to drive climate action

Successive Conference of the Parties (CoP) meetings have underscored the need to mobilise funds, particularly for developing countries. The funding requirement, to be contributed by developed nations, was set at $100 billion per year at the CoP15, held in Copenhagen in 2009. This funding was to begin in 2020 and end in 2025.

In the last concluded CoP held in Azerbaijan, this commitment was tripled, and is to be provided annually from 2035. That said, technical assessors have maintained that the amount agreed to is too little compared to what is needed for meaningful climate action.