A report published by Oxfam has urged all governments, including Kenya, to introduce a new wave of taxes targeting billionaires and corporations.
The report, Climate Equality: A Plant for the 99%, explained that the taxes will drive down emissions and reduce the effects of Climate Change.
Individuals accused of profiting from polluting the planet will also be subjected to the new monetary deductions if the proposal is adopted.
"Trillions of dollars from the new taxes can be invested in public services, technologies, and goods that are designed for and by the 99 per cent, focused particularly on women and racialized groups," read the report in parts.
Governments that enact the taxes should revolve them around flyer levies and luxury travel and ensure the richest pay more.
Kenya was urged to discourage flying by taxing frequent flying and the tax-free status of aircraft fuel.
"Increase taxes on or ban, luxury products and activities that are excessively carbon-intensive and unnecessary, from SUVs to yachts, private jets and space tourism," read the report in parts.
According to Oxfam, rich countries and individuals have the greatest responsibility for and capacity to reduce emissions and should phase out fossil fuels.
The global body called upon countries to also immediately stop issuing any new licenses or permitting the expansion of coal, oil, and gas exploration, extraction, or processing.
Oxfam also proposed a top-up wealth tax for investments perceived to pollute the environment, to deter such projects from being undertaken.
A flat carbon tax may also be introduced to curb emissions and raise climate finance.
On corporations, the government was asked to introduce permanent, automatic windfall profit taxes on large corporations with super profits from all sectors at rates between 50-90 per cent to stop crisis profiteering.
They were also asked to implement proven policies to dramatically drive down the gap between the richest and the rest.
"Only by radically reducing inequality can we deliver a good life for all humanity while protecting and preserving our planet. Reducing the incomes and wealth of the richest will dramatically reduce emissions.
"More economically equal societies are vital to confronting inequalities such as gender, race, religion and caste. More equal societies are able to manage the huge risks and impacts of extreme weather effectively and fairly. They can secure the political consensus needed for a rapid and permanent transition away from fossil fuels and overconsumption by the few to a better life for all," Oxfam proposed.
