PAP Committees to recommend support for tax on Climate Action

The Pan-African Parliament (PAP) Permanent Committee on Rural Economy, Agriculture, Natural Resources and Environment; and the Committee on Monetary and Financial Affairs have resolved to sponsor a resolution supporting the European Parliament's Financial Transaction Tax on Climate Action (FTTCA) law.

Additionally, the two Committees resolved to encourage Regional and National Parliaments in Africa, as well as their respective governments, to join in advocating for the FTTCA.

The resolution which would be presented to the PAP Plenary for adoption, provides for PAP to urge the Organization for Economic Co-operation and Development (OECD) countries to follow suit and adopt the FTTCA, with a view to fulfilling their commitment to funding climate change solutions in African countries.

Also, member countries of the European Union will be called upon to adopt the proposed tax.

The Committees resolved to support the European Parliament on the condition that the funds collected will benefit African countries in their effort to mitigate the effects of climate change.

In adopting to make these recommendations to the plenary, the two Committees took into consideration, the dire circumstances faced by 20 million Africans who suffer from climate-related catastrophes like drought, famine, and environmental degradation. Furthermore, they recognized the global impact of climate change, with Africa bearing the brunt of its consequences. The Committees took cognizant of the "loss and damages" fund established by the Conference of the Parties 27 to aid the most affected countries by climate change.

Loss and damage refers to the negative consequences that arise from the unavoidable risks of climate change, like rising sea levels, prolonged heat waves, desertification, the acidification of the sea and extreme events, such as bushfires, species extinction and crop failures.

The recommendations to the plenary are in line with the recent call made by H.E Dr. William Ruto, President of the Republic of Kenya, during the Third Pan-African Parliamentarians Summit on Climate Policy and Equity hosted by the PAP.