PARIS — French President Emmanuel Macron on Friday hinted at a fresh push to revamp the international taxation system to finance climate efforts.
Macron spoke on the sidelines of the Summit for a New Global Financing Pact in Paris, where delegates from across the world are discussing ways to reform the international financial system to help raise money for climate adaptation and mitigation efforts.
Top economists in France have been pushing for a new wealth tax to finance the fight against climate change, spurring a debate inside Macron’s government.
But Macron dodged the issue in an interview with French media, instead calling for other ideas like a tax on financial transactions or an extra fee on airline tickets.
“I’m calling for mobilization, help us go and get all the countries who don’t have a [tax on financial transactions] and don’t have a tax on plane tickets,” he said.
Macron dismissed the idea that France could introduce a climate tax on its own, saying: “It doesn’t work when you do it alone, the [financial] flows go elsewhere.”
During his closing remarks at the financial pact summit, Macron said the OECD club of rich countries would be an appropriate framework for negotiations, noting that countries had used the Paris-based Organisation for Economic Co-operation and Development to reach a deal on reforming global taxation for large multinationals.
“There has been a great deal of discussion on the idea of international taxation, over and above what countries and institutions are doing. Whether it’s on financial transitions, maritime transport or certain other modes, it will only work if it’s truly international, and so it presupposes an agreement, as we’ve been able to do on international taxation,” he said, adding: “The OECD is undoubtedly a very useful platform in this respect.”
Talks are ongoing at the International Maritime Organization on introducing a global tax on shipping, however it is unclear whether any revenue raised would go to decarbonizing the shipping industry or supporting climate initiatives in poorer countries.
“Help us to mobilize the International Maritime Organization in July so that there is international taxation,” Macron said.
