Levies on Equity Transactions to Finance Climate Action (2025)

Mobilising substantial new resources is essential to address the climate crisis, particularly for low-income developing countries disproportionately affected by its impacts. Financial Transactions Taxes (FTTs) on equity trading, already implemented in several countries and generating around $17 billion annually, represents an underutilised revenue stream. Drawing on FTTs that already exist, such as in France, the paper shows that an additional $87 billion per year could be raised. This could significantly contribute to climate action, especially for Loss and Damage, which requires grants-based finance.

The report was written by renowned experts in the field of FTTs, Gunther Capelle-Blancard and Avinash Persaud, on behalf of the Global Solidarity Levies Task Force (GSLTF), an initiative launched at COP28 and led by France, Kenya and Barbados.

REPORT Levies on Equity Transactions to Finance Climate Action