Education
Group asks EU to tax fossil fuel profits to fund public services – EnviroNews
– Advertisement –
Climate campaign group, 350.org, has called on European governments to impose permanent taxes on fossil fuel companies’ excess profits and channel the revenue into public services, climate action, housing and education amid growing protests over the rising cost of living across major European cities.
The organisation made the call on Tuesday, October 20, 2026, as demonstrations over living costs, housing and education swept cities including Paris, Milan and Brussels, with protesters also expressing concerns about rising fuel prices.
350.org argued that taxing extraordinary profits earned by oil and gas companies would provide governments with additional resources to address economic hardship while accelerating the transition to cleaner energy.
The organisation’s appeal comes as major oil companies, including TotalEnergies, Shell and BP, are expected to announce their third-quarter financial results next week, raising renewed concerns among campaigners about the distribution of profits amid mounting pressure on household budgets.
According to 350.org, the European Commission agreed last week to establish a dedicated group to examine how profits from oil and gas companies could be taxed.
The group urged the European Union to translate the initiative into binding measures, arguing that governments should use the proceeds to increase funding for public housing and education, improve wages and strengthen climate action.
Fanny Petitbon, 350.org’s France manager, said governments should prioritise the needs of households struggling with rising expenses rather than allow fossil fuel companies to benefit from global instability.
“We need zero tolerance for fossil fuel profiteering. Oil companies are making record profits while household and public budgets run dry. Curfews and repression won’t make legitimate grievances disappear,” Petitbon said.
She accused the French government of being more responsive to the interests of TotalEnergies than to the demands of demonstrators.
“The government must stop telling us the coffers are empty and crack down on oil profits instead. When people can no longer afford their bills, polluters must pay,” she added.
Petitbon also cited remarks attributed to TotalEnergies Chief Executive Officer, Patrick Pouyanné, who reportedly described a world in turmoil as “good for business”, arguing that the benefits of higher fossil fuel earnings should be redirected towards public needs.
“The money for more classrooms and teachers exists – it’s sitting with oil executives and shareholders. Our leaders must listen to this unprecedented alliance of students, workers and families, tax these excess profits and invest public money in a better future,” she said.
France’s Spending Cuts Raise Concerns
The campaign group also criticised France’s proposed budget for next year, arguing that planned spending reductions could undermine efforts to address social and environmental challenges.
According to 350.org, the budget proposal envisages €54 billion in spending cuts while failing to adequately address what it described as ecological and social emergencies.
The organisation highlighted reductions in funding for the Green Fund, which supports local climate projects, saying its allocation had fallen from €2.5 billion in 2024 to approximately €1 billion.
It also warned that budget freezes had stalled renovations of school buildings, including projects designed to help facilities adapt to the effects of climate change.
The group argued that cutting investment in climate resilience and public infrastructure while households face rising living costs could deepen existing social pressures.
Its position reflects a wider debate in Europe over how governments should balance fiscal constraints, energy affordability, climate commitments and demands for improved public services.
Fossil Fuel Taxation and the Energy Transition
The proposed taxation of excess fossil fuel profits is part of a broader campaign by climate advocates to make oil and gas companies contribute more towards addressing the economic and environmental consequences associated with fossil fuel dependence.
Supporters of windfall taxes argue that governments can use the revenue to support vulnerable households, improve public infrastructure and finance renewable energy and other climate-related investments.
However, the design of such taxes remains important, particularly in determining what constitutes excess profit, how revenues are allocated and how measures interact with existing corporate taxation and energy-market policies.
For 350.org, the immediate priority is to move beyond discussions and establish binding European Union measures that would ensure extraordinary fossil fuel earnings contribute to public welfare.
The group maintained that governments should respond to the grievances of protesters by addressing the underlying economic pressures facing households while strengthening investment in climate action.
It called on European leaders to ensure that the financial benefits of the energy sector are not concentrated among corporate executives and shareholders while ordinary citizens struggle to afford essential services.
The campaign also linked the demand for fossil fuel profit taxation to the need for a fairer energy transition, arguing that public revenue should support communities, improve living conditions and accelerate action against climate change.
