Big oil, coal and gas producers paying for their climate damage
The Climate Justice Programme (CJP) and the Heinrich Böll Foundation are proposing a new and innovative source of finance: a fossil fuel extraction levy paid by those 90 entities responsible for two-thirds of global carbon emissions. The third and updated edition of the Carbon Majors report, now titled "Big Oil, Coal and Gas Producers paying for their Climate Damage" has been published in June 2015. This discussion paper outlines the case for fossil fuel producers («Big Oil, Coal and Gas Producers» resp. «Carbon Majors») to provide funding via the Warsaw International Mechanism for Loss and Damage for communities suffering loss and damage from climate change.