The U.N. secretary general said Tuesday that developed economies should impose an extra tax on the profits of fossil fuel firms, with the funds diverted to countries affected by climate change and households struggling with the cost-of-living crisis. But it’s high time to put fossil fuel producers, investors and enablers on notice.”“Polluters must pay. Back in May, for example, the U.K.’s former finance minister, Rishi Sunak, announced details of what he called a “temporary, targeted energy profits levy” on oil and gas firms. And therefore, our proposal also includes the fossil fuel electricity producers, who have to give a crisis contribution.”Overall, von der Leyen said the proposal would raise over 140 billion euros, or around $140.1 billion. “And transition means transition — it means it takes some time.”“The idea that we can turn off the taps and end fossil fuels tomorrow, it’s obviously ridiculous and naive,” Winters said.

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