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Taxing windfall profits is smart economic policy, a clear and direct source of money for development and tackling climate change, say campaigners. Piling more loans onto poorer countries makes no sense when debt is accelerating the climate crisis.
Extreme wealth and extreme poverty have increased simultaneously for the first time in 25 years, according to research
Eighteen of the biggest food and beverage groups in the world said to have made an average of $14bn in windfall profits in the last two years.
Indian billionaire Mukesh Ambani's Reliance Industries Ltd (RIL) was ranked 45th on Forbes' Global 2000 list on Tuesday. In all, 55 Indian firms figured on the list. Three firms of the conglomerate helmed by Gautam Adani, whose group faced a scathing attack from a US short seller earlier this year that lead to him losing the world's third richest tag, figured in the list.
The online Net Zero Tracker tool shows that one fifth of the UK companies have made no announcement of net zero targets at all.