Guterres: Windfall profits of major oil companies should be taxed
Geneva, November 11 (Hibya) - United Nations (UN) Secretary-General Antonio Guterres stated that the nine largest oil companies had earned a combined $95 billion in profits in the last quarter, calling on governments to tax these windfall profits and direct the revenues toward supporting the recovery of vulnerable countries.
United Nations Secretary-General Antonio Guterres announced that the nine largest oil companies had earned $95 billion in profits in the last quarter alone.
Guterres called on governments to tax oil companies' windfall profits and use the resulting revenues to support the recovery of vulnerable countries.
Emphasizing that polluters must pay, Guterres noted that the substantial profits generated by oil companies should help support countries affected by climate change.
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