Climate Damage Tax (CDT)

Climate Damage Tax (CDT) is a fee for mining each ton of coal, barrel  of oil or cubic   metro of gas, calculated at a consistent rate based on the amount of CO2e  contained  in fossil fuel.

So he suggests tax administration

• Taxing large fossil fuel companies based in some of the world's richest countries could raise billions of dollars to tackle climate change.
• It would further support renewable energy projects in low-income countries around the world. 

In addition, the Paris Agreement places greater responsibility on wealthier countries to address climate change due to record high carbon emissions. Rich countries made commitments at COP summits, but then took only limited action. 

Media reports say they have not raised enough funds or started new projects to help low-income countries fight climate change. A tax on oil and gas producers in rich countries such as the US, UK, Japan, Spain and Canada could finance developing countries and attract fund more investments . (Source carboncredits.com)