Filtered by category: Climate Change News, tag: tax negotiations × Clear
A legal fiction blocking billions in climate finance will be challenged this week
Matched: climate
UN member states are meeting in New York this week to negotiate a new international tax framework that could unlock up to $500 billion annually in climate finance. At issue is a legal convention allowing multinational corporations and wealthy individuals to shelter money in low-tax jurisdictions, depriving developing nations of funds needed for climate action. Supporters say reforming these rules could significantly boost available climate finance.