Fossil fuel company profits

Motion Text

That this House recognises the urgent need to address the climate and ecological crisis; notes that oil and gas companies have made record profits while contributing significantly to climate breakdown; further notes that millions of people in the UK and globally are already paying the price through extreme weather, flooding, and environmental degradation; acknowledges polling which shows that the vast majority of the public support making big polluters pay for the damage caused; calls for the introduction of a windfall tax on the big banks, which have overseen billions of pounds in unexpected profits; and urges the Government to step up their action on adaptation, nature’s recovery and clean renewable energy at COP30 to enable the UK to act as a leader on the world stage when it comes to tackling climate change.