Durban, South Africa – Commenting on the outcome of the G20 3rd Finance Ministers and Central Bank Ministerial Meeting, Greenpeace welcomed the G20 ministers’ support for international tax negotiations at the United Nations. However, Ministers did not reference the proposal introduced under Brazil’s G20 presidency last year to tax the ultra-rich.[1]

Fred Njehu, Global Political Lead of the Fair Share campaign, Greenpeace Africa, said: “This show of support for the UN Tax Convention is a welcome step in the right direction for new global tax rules that work for everyone, not just the select few. The G20 must now put words into action and engage constructively in the process as a global multilateral platform that will shape and determine the future of taxation, one rooted in equity, transparency and justice.

“However, the G20 Finance Ministers are squandering an incredible opportunity to end financial apartheid and achieve a breakthrough on wealth taxation that could redistribute much needed funds to tackle the social, economic, environmental and climate polycrisis. Equality is not the accumulation of wealth and power in the hands of a few billionaires. We need to stand up to the power of billionaires who are a threat to our democracies, security and wellbeing.[2]

“Turbulent economic times like these demand global cooperation and a multilateral response. G20 ministers have an historic obligation to help steer the global economy and environment towards safer waters. They must listen to growing public calls and build the political momentum for taxing the super-rich and set new global tax rules that work for all to achieve social and climate justice.”

END

Notes:

[1] New global tax rules in an UN Framework Convention on International Tax Cooperation are being negotiated, from now until 2027. It is a historic opportunity to redistribute power and wealth, and foster tax transparency and accountability. It aims to take control of global tax rules from the rich OECD (Organisation for Economic Cooperation and Development) countries to place it in the hands of the 193 member states of the United Nations. 

[2] Greenpeace: Ramaphosa, G20 must end financial apartheid with tax on super-rich

Contacts:

Ibrahima Ka Ndoye, International Communications Coordinator, Greenpeace Africa. +221778437172, indoye@greenpeace.org.

Greenpeace International Press Desk, +31 (0)20 718 2470 (available 24 hours), pressdesk.int@greenpeace.org

Durban, South Africa – Greenpeace Africa has demanded G20 host and South African President Ramaphosa push ahead on accelerating efforts to impose a wealth tax on the world’s billionaires and to support the UN Tax Convention for new and fair global tax rules.  

Ahead of the G20’s 3rd Finance Ministers and Central Bank Governors’ meeting, Greenpeace Africa activists dropped a 15 metre long x 2 metre high banner from a highway bridge near King Shaka International Airport with a photo of Cyril Ramaphosa and a message that said: ‘End Financial Apartheid. Tax The Super Rich’.

Cynthia Moyo, Lead Campaigner, Greenpeace Africa, said: “It’s outrageous that billionaires keep getting richer off a broken global tax system while millions across Africa and the world are pushed deeper into poverty and climate chaos. This is financial apartheid. South Africa understands the cost of injustice. Just as Mandela led the fight against political apartheid, President Ramaphosa now has a chance to lead the G20 in dismantling financial apartheid by taxing the super-rich and backing the UN Tax Convention. This is a fight for justice, dignity, and a future where wealth serves people, not the powerful few.”

The action comes after an announcement at the UN Financing for Development conference that Spain, Brazil and South Africa are launching an initiative to tax the super-rich and the recent BRICS statement in support of the UN Tax Convention.[1] [2] [3]

Fred Njehu, Global Political Lead of the Fair Share campaign, Greenpeace Africa, said: “We are on the cusp of momentous change. There is growing public and political momentum for taxing the super-rich and new global tax rules that work for all to achieve social and climate justice.

“This is a historic opportunity for President Ramaphosa, who must seize this chance to lead the G20 in an economic direction that will serve not only the people of South Africa and the continent, but the majority world, by redistributing funds to tackle the social, environmental and climate polycrisis.

“We ask G20 countries to support and engage constructively in the UN Tax Convention process as a global multilateral platform that will shape and determine the future of taxation, one rooted in transparency, accountability, equity and justice.”

Globally, billionaire wealth grew three times faster in 2024 than in 2023.[4] In Africa, the four richest people have more wealth than half of the region’s 750 million people combined. Since 2020, the average income of the richest 1% in Africa has increased five times faster than that of the bottom 50%.[5]

ENDS

Photos and Videos can be downloaded from the Greenpeace Media Library

Notes:

[1] At the recently concluded 4th International Conference on Financing for Development in Seville, South Africa had joined the ranks of Spain and Brazil in forming a coalition of willing countries to work on taxing the super-rich and to support fair taxation at the upcoming UN Tax Convention negotiations. Greenpeace’s press release 

[2] BRICS leaders’ endorsement of the UN framework for international tax cooperation. 

[3] New global tax rules in an UN Framework Convention on International Tax Cooperation are being negotiated, from now until 2027. It is a historic opportunity to redistribute power and wealth, and foster tax transparency and accountability. It aims to take control of global tax rules from the rich OECD (Organisation for Economic Cooperation and Development) countries to place it in the hands of the 193 member states of the United Nations. 

[4] Oxfam report: Takers not Makers: The unjust poverty and unearned wealth of colonialism

[5] Oxfam report: Africa’s Inequality Crisis and the Rise of the Super-Rich

Contacts:

Ferdinand Omondi, Communications and Storytelling Manager, Greenpeace Africa, +254 722 505 233 , fomondi@greenpeace.org. 

Ibrahima Ka Ndoye, International Communications Coordinator, Greenpeace Africa, +221778437172, indoye@greenpeace.org.

Greenpeace International Press Desk, +31 (0)20 718 2470 (available 24 hours), pressdesk.int@greenpeace.org