Fossil fuel firms may have to pay for climate damage under proposed UN tax

Framework Convention on International Tax Cooperation could also force ultra-rich to pay global wealth tax

Fossil fuel companies could be forced to pay some of the price of their damage to the climate, and the ultra-rich subjected to a global wealth tax, if new tax rules are agreed under the UN.

Negotiations on a planned global tax treaty will resume at the UN headquarters in New York on Monday, with dozens of countries supporting stronger rules that would make polluters pay for the impact of their activities.