Nobel Economist Tells G-20 to Slap Climate Tax on Billionaires
- Duflo wants to raise $500 billion to mitigate climate effects
- Rich nations have ‘moral debt’ to poor countries, she argues
Brazil has demanded that wealthy nations spend more to combat global warming. Now, as the rotating president of the Group of 20 nations, it is promoting a Nobel-winning economist’s plan to tax billionaires and corporations to alleviate the pain climate change has caused the planet’s poorest citizens.
Esther Duflo, a Massachusetts Institute of Technology professor who won the 2019 Nobel Prize in economics for her research into poverty reduction, will on Wednesday present her proposal for a global minimum tax on billionaires and increased corporate levies to G-20 finance chiefs gathered in Washington.