Small island nations like Antigua and Barbuda, which are suffering the brunt of climate change want Big Oil to pay for mounting damage from ocean storms and sea-level rise.

Antigua and Barbuda’s Prime Minister told delegates at the COP27 climate summit in Egypt on Tuesday that the oil and gas industry continues to earn almost 3 billion United States dollars daily in profits.

Browne made these remarks on the second day of speeches from heads of state and government at the two-week conference in the seaside resort town of Sharm el-Sheikh.

“It is about time that these companies are made to pay a global carbon tax on their profits as a source of funding for loss and damage. Profligate producers of fossil fuels have benefited from extortionate profits at the expense of human civilization. While they are profiting, the planet is burning,” he said

Browne speaking on behalf of the Alliance of Small Island States said.

Listen to parts of Browne’s speech here.