G20 in Rio: protest calls for taxation of the super-rich to finance the fight against hunger

Civil society organizations from the Observatório do Clima network installed, on the morning of this Monday (18), a 3 meter high coin, in front of Posto 12, in Praia do Leblon, in Rio de Janeiro (RJ). The objective of the action is to pressure G20 countries to tax the super-rich and redirect the resources obtained to finance actions to combat the climate crisis.
The protest takes place in parallel with the debates at the G20 Heads of State Summit, this Monday and Tuesday (19), under the rotating presidency of Brazil.
The so-called Group of 20 brings together the countries with the largest economies in the world, in addition to the European Union and, more recently, the African Union.
The Climate Observatory campaign proposes a 2% annual tax on the wealth of 3,000 billionaires to finance much of the climate adaptation needed by the most vulnerable populations on the planet, such as those in poor countries, forest people, riverside dwellers, favela residents and rural areas, which suffer from floods, droughts and extreme temperatures.
Lula: taxation of the super-rich could generate US$250 billion to combat climate change
In a speech during a meeting with the leaders of the world’s largest economies, Lula also assessed that “neoliberal globalization” had failed and defended the review of financial rules for developing countries.
Civil society
According to the Climate Observatory, the G20 countries are responsible for around 80% of greenhouse gas (GHG) emissions, which cause global warming, and account for 80% of the global economy. Therefore, the Brazilian network of environmental entities supports the expansion of financing for climate actions by the biggest polluters.
According to these organizations, none of the G20 members can claim a lack of resources if they do not tax their billionaires progressively and, subsequently, allocate the amounts to promoting a fair energy transition.

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The alliance has 147 founding members, including 81 countries, the African Union, the European Union, 24 international organizations, 9 international financial institutions and 31 philanthropic organizations.
Brazil’s proposal
The Brazilian presidency of the G20 suggests a minimum tax of 2% on the income of the world’s billionaires, which would raise between US$200 billion and US$250 billion per year, to be a source of financing to combat inequality and face changes climate.
Taxing the super-rich to transform climate goals into concrete solutions, debated during the group’s Brazilian presidency, is considered the main proposal of President Luiz Inácio Lula da Silva’s government to be included in the summit’s final declaration to be released on Tuesday .

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Taxation
The Climate Observatory’s act is part of the TaxOsBi campaign to fill out a form sent to global leaders’ emails with the proposal to tax 2% of the wealth of 3 thousand billionaires to finance actions to mitigate climate change.
Another similar initiative is the Taxing the Billionaires dossier, which highlights eight foreign and national billionaires as examples that the taxation of super-wealth could generate resources to face the consequences of global warming.
(With Agência Brasil)
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