ECONOMYNEXT – The Global North is unwilling to fund measures to avoid death and destruction caused by climate change, Sri Lanka’s President Ranil Wickremesinghe told the World Water Forum held in Bali, Indonesia, and proposed a global levy.
Addressing the 10th World Water Forum, Wickremesinghe stated that the “Global North is willing to fund death and destruction in the Ukraine, but there is an unwillingness to fund measures to avoid death and destruction caused by climate change,” a statement by his media division said.
Wickremesinghe proposed that a 10 percent levy on the annual profits of global tax evasion assets deposited in tax havens be charged to help fund climate change. The annual profits are estimated at 1.4 trillion dollars per annum.
The President told a forum in Colombo this month that Sri Lanka will sit out the international climate summit, Conference of Parties, in future if there continues to be a lack of cohesion in solutions to tackle climate change among world leaders.
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The President has said that the funding that Sri Lanka was awaiting from the Conference of Parties held in Glasgow in 2021 was not received.
Sri Lanka has consistently been placed among the top ten countries at risk of extreme weather events by the Global Climate Risk Index. (Colombo/May20/2024)