NAIROBI, Kenya, April 19 – Kenya took part in the first meeting to mobilize financing for people and the planet on Wednesday in Washington, DC, United States of America.
Co-chaired by Kenya, Barbados, and France, the International Tax Task Force brings governments together to foster political will and advance options for international climate taxes to close the annual funding gap for developing and vulnerable countries, estimated at $2.4 trillion by 2030.
At the meeting, members endorsed a 2-year work plan for the taskforce to ensure all industries and people contribute to financing the fight against climate change, taking into account the pollution induced by their activities.
With the work of the task force now underway, its members aim to put forward proposals and promote international agreements on one or several tax options at COP30 in autumn 2025.
These agreements can be implemented by relevant decision-makers and by coalitions of countries ready to commit to implementing new tax options at the domestic level or in a relevant international forum to generate more fairness and equity in the current global tax system.
“The task force is keen to find practical solutions that raise much needed financing to tackle climate change while having minimal impact on ordinary people,” Ali Mohamed, Climate Change Envoy for Kenya and Sherpa to the task force, said.
“The goal is to develop innovative sources of financing that can be implemented by any country that wants to make a difference.”
The inaugural meeting in DC coincided with the International Monetary Fund’s (IMF) and World Bank Group’s spring meetings in the US capital.
The founding members, Kenya, France, Barbados, Ireland, Spain, Antigua, and the Marshall Islands, were joined at the meeting by a new member, Colombia.
The meeting was observed by the European Union, the IMF, and the United Nations (UN).
Membership in the task force currently has representation from around the world. Together, the members called on other interested countries to join the new initiative.
“The need for substantial, sustainable financial resources for countries to tackle climate change has never been more urgent,” Aurelien Lechevallier, Director General for Globalization at the French Ministry for European and Foreign Affairs and Sherpa to the task force, stated.
“As a coalition of nations seeking ways to ensure we can meet our climate and development commitments now and into the future, the task force will collaborate to build political will among all governments and bring equitable, evidenced and workable solutions to COP30.”
The taskforce was established at COP28 by President Ruto, President Macron, and Prime Minister Mottley with the aim of mobilizing finance at scale while bringing more equitable climate justice and fairness to our current financial system.
