UN calls for taxing unexpected fossil fuel profits to aid those hit by climate shocks
The UN Secretary-General, António Guterres, continues to push governments toward bold climate action. He argued that unexpected profits earned by fossil energy companies should be taxed and the proceeds redirected to countries most affected by climate change, as well as to ease pressures from rising food and energy costs.
Guterres has long floated this idea, but in recent months he has sharpened his case in front of presidents and prime ministers gathered at the United Nations General Assembly. In his address, he declared that the world cannot simply rely on fossil fuels forever. He urged leaders to intervene and hold the energy sector accountable, calling on critics to move beyond PR campaigns and political shielding from hard truths about the industry.
The photo caption accompanying the briefing noted that the United Nations is urging world leaders to consider taxing profits from the fossil energy sector, a proposal that has gained attention as countries grapple with energy affordability and climate risk.
Guterres acknowledged that simply phasing out fossil fuels overnight is unrealistic. His concept centers on a just transition that funds the big polluters to make the shift smoother for communities already bearing climate costs. He emphasized that advanced economies should tax unexpected profits from fossil fuel companies now, framing climate action as the defining challenge of this era and the top priority for governments and international bodies alike.
“Our world is dependent on fossil fuels. It’s time to intervene”
In this context, he condemned the ongoing rise in greenhouse gas emissions and warned that the planet is hurtling toward a climate catastrophe whose effects are already visible in severe droughts and recent floods around the globe. He stressed that no region is immune and warned that today’s hottest days could be followed by even more extreme weather tomorrow. The emphasis on climate danger was echoed by fellow leaders as Csaba Korosi, the President of the General Assembly, spoke after a session of heads of state and government.
“Ugly tactics like those used by tobacco companies decades ago”
Guterres has not shied away from blunt criticism of the hydrocarbon industry. Earlier in the year, he sparred with major economies, warning them about the risks posed by continued fossil fuel expansion. He reminded them that as the world’s largest economies and emitters, their duty is to protect people and that the danger of fossil fuel expansion is clear, even in the short term. He spoke at an international forum focused on energy and climate policy, arguing that the present economic logic of fossil fuels does not hold up against the long-term costs to people and the environment.
The UN spokesperson has consistently challenged global leaders and called out the pressure exerted by gas, oil, and coal industries on policy and economies. He drew a parallel between the tactics of fossil fuel producers and those of the tobacco industry decades ago, arguing that such influence should not distract governments from accountability and responsibility.
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