At the G20, Brazil has proposed a global minimum tax for billionaires to mobilize more money for climate action and the fight against poverty. On behalf of the Brazilian G20 presidency, economist Gabriel Zucman drafted a „blueprint“ for such a wealth tax on assets in the run-up to the G20 finance ministers’ meeting on July 25/26. The plan is a central element of Brazil’s G20 presidency and has now gained support from France, Spain and South Africa. German Development Minister Svenja Schulze also signaled her approval. Zucman, founder and director of the independent research institute EU Tax Observatory at the Paris School of Economics, is convinced: „Thanks to recent progress in international tax cooperation, a common taxation standard for billionaires has become technically possible.“ However, it remains to be seen how big the climate benefit would be.