The G20 Taskforce “Global Mobilization against Climate Change” (TF-CLIMA), convened by the G20 Presidency, Brazil, recently convened to react to a report that the taskforce commissioned from a group of 12 independent experts. The report addressed how the G20 countries can shift their financial systems to respond to climate change. According to Climate Home News, however, sections on Brazil’s proposal for a 2% wealth tax on billionaires worldwide was cut from a draft version of the report, including a description of the idea’s popularity with “electorates around the world”. Instead of recommending that it was “relatively straightforward” to implement, the revised version stated that there were “questions over the feasibility of implementation”. Reportedly France, Spain and South Africa supported the wealth tax proposal “while the US opposes it”, however, this was also deleted from the final version. The US has not expressed its position on the tax clearly in public.
