<h1>Cooperative Fossil Fuel Levies Could Raise $66B Annually for Climate Action in Developing Countries</h1> A recent study by climate economists proposes that cooperative levies on fossil fuels imposed by smaller coalitions of importing countries could generate approximately USD 66 billion annually to support emission reduction efforts in developing nations. The study suggests that expanding these levies to include international aviation and maritime emissions could increase funds to USD 200 billion yearly. It highlights that cooperation between major economies, such as the European Union and China, could significantly amplify climate finance while benefiting consumers by lowering global fuel prices. The funds raised could reduce emissions by over a billion tonnes of CO2 annually and provide substantial economic benefits by avoiding climate damages and lowering fossil fuel costs. This model offers a potential legal and financial framework for mobilizing international climate finance without imposing additional costs on consumers, supporting global public goods through targeted spending and international cooperation.