‘Colossal profits’: Christian leaders lambast fossil fuel giants as they demand EU windfall tax

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🗞️ Driving the news: A coalition of 120 Christian organisations from 20 EU countries is calling on EU institutions to phase out fossil fuels, halt subsidies, and impose a windfall tax on fossil fuel companies profiting during the US-Israeli war in Iran
• The appeal urges redirecting revenues to finance the clean energy transition and support vulnerable households

🔭 The context: The campaign, titled Europe, Be Faithful for Our Common Home, highlights concerns that EU “environmental omnibus” legislation weakens emission and water protections, favoring industry over climate commitments
• Signatories include Laudato Si’ Movement, Caritas Europa, and the Central Committee of German Catholics, linking moral and religious duties to urgent climate action

🌍 Why it matters for the planet: Fossil fuel companies are responsible for roughly half of global carbon emissions
• Europe’s leadership in phasing out coal, gas, and oil is crucial to limiting warming and supporting Global South countries, which face disproportionate climate impacts while carrying $31 trillion in debt
• Redirecting windfall profits can accelerate renewable energy investments and social protections

⏭️ What’s next: The coalition calls for a clear EU exit timeline from coal (2030), gas (2035), and oil (2040), an immediate ban on new exploration and infrastructure, and a 2027–2034 budget that prioritises energy affordability over corporate profits
• Policy decisions in the coming months will test EU commitment to its climate leadership

💬 One quote: “Europe has a unique opportunity and the moral responsibility to accelerate the phase out of fossil fuels and shift to clean energy, including through a permanent tax on the colossal profits of fossil fuel companies,” the appeal reads

📈 One stat: Fossil fuel companies earned over $30 million (€25.8m) per hour in profits during the first month of the US-Israeli war in Iran; global fossil fuel subsidies in 2023 amounted to $620 billion (€534bn).

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