Study Finds Wealth Tax, Oil Subsidy Phaseout Could Generate $5T for Climate
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Research published Tuesday estimates that rich countries could mobilize over $5 trillion a year for climate action worldwide by cutting off subsidies to the oil and gas industry, imposing a levy on big polluters, and cracking down on tax evasion by large corporations and the rich. The new report from Oil Change International (OCI) was released as world leaders gathered in New York City for…