Ben Kalu: Multinationals should pay tax to support climate adaptation in Africa

Benjamin Kalu, the deputy speaker of the house of representatives, says multinational companies should pay tax to support victims of climate change.

In a statement on Tuesday, Kalu lamented the recent flooding in Borno and Zamfara states.

The deputy speaker said the climate crisis undermines Africa’s progress towards sustainable development goals (SDGs) and hinders the economic growth of the continent.

He said Esther Duflo, a Nobel prize-winning economist, had proposed a global tax to support climate adaptation in Africa.

Kalu said the proposal includes a “tax on multinational corporations and billionaires to fund climate adaptation in low-income countries,” helping them prepare for climate disasters.

The lawmaker said the proposed climate tax would help to mitigate the effects of climate change and support victims in vulnerable regions in building resilience.

Kalu added that there is a need for investment in agriculture to avert the food insecurity caused by climate change.

“Africa is disproportionately impacted by climate change despite contributing just 3.8 percent to the greenhouse gas emissions, in contrast to 23 percent by China, 19 percent by the US, and 13 percent by the European Union,” Kalu said.

“Furthermore, Africa faces a widening energy gap compared to South Asia and Latin America, which have made more significant progress in bridging their energy deficits.

“In Borno state alone, the International Organization for Migration’s Displacement Tracking Matrix identified 320,791 individuals in 65,731 households affected by the floods across 19 LGAs.

“These include 157,274 internally displaced persons and 108 returnees, all severely impacted by the floods.”