Fossil fuel industry must contribute towards £44bn climate change damage in UK each year, campaigners say

(The Independent, 24 Mar 2019) 'It’s time the industry is held to account for the range of damage it causes and is made to foot much of the bill for the transition to clean energy'.

Coal, oil and gas industries in the UK cause at least £44 billion pounds of damage each year, according to a new estimate by environmental campaigners.

Friends of the Earth have called for the “polluter pays” principle to be applied, with a new carbon tax levied on companies so they can contribute to a green transition.

They argue the fossil fuel industry has long been aware of the harmful effects of climate change, such as its impact on extreme weather.

“If you pollute, you pay. It’s a simple fix to help avoid catastrophic climate breakdown. For decades the oil, coal and gas industry has extracted, processed, sold and profited from fossil fuels,” said Mike Childs, head of policy for Friends of the Earth.

“The costs of this industry are being felt by people and nature across the world through more extreme weather, such as floods, droughts and wildfires. 

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The Independent, 24 Mar 2019: Fossil fuel industry must contribute towards £44bn climate change damage in UK each year, campaigners say