[1/3] A general view shows Marathon Petroleum's refinery, following Russia's invasion of Ukraine, in Anacortes, Washington, U.S., March 9, 2022.
Higher carbon taxes - including levies on emissions from the maritime and aviation sectors - should be among options COP28 studies, the panel recommended.
Subsidies for fossil fuels totalled $1.3 trillion, and substantially more if counting the societal cost of dealing with emissions and pollution.
Co-chair Nicholas Stern, professor at LSE/Grantham Research Institute, said there was a compelling case for energy companies to make voluntary contributions.
"I think that moral obligation is something that will be emphasised at COP28, and indeed before and after," he said.
Persons:
David Ryder, Amar Bhattacharya, Vera Songwe, Nicholas Stern, Mark John, Barbara Lewis
Organizations:
REUTERS, Summit, United Arab, Brookings, Center, Sustainable Development, Investments, World Bank, LSE, Grantham Research Institute, Aviation, Thomson
Locations:
Ukraine, Anacortes , Washington , U.S, Dubai, United Arab Emirates, Paris, COP28, China