A/74/161 (f) Ensure that adaptation actions do not reduce the vulnerability of one group at the expense of other people, future generations or the environment. D. Ramping up climate finance 87. Wealthy States must fulfil their commitment to mobilize at least $100 billion annually by 2020 to finance the urgent mitigation and adaptation needs of developing States, with priority given to the least developed countries and small island developing States. Adaptation has been chronically underfunded compared to mitigation. Funding needs to be ramped up by 2025 to meet the full costs of adaptation, estimated to be $140 to $300 billion per year by 2030. 88. Steps should be taken by climate funds to strengthen and harmonize social, environmental and human rights safeguards when financing projects. All climate funds should require project-specific gender action plans and consistency with the Sustainable Development Goals as prerequisites for project ap proval. 89. Climate funds, including the Green Climate Fund, need to simplify their procedures and reach out to least developed countries and small island developing States, so that these States are able to access the funds required for mitigation and adaptation. 90. To address fossil fuel subsidies, internalize the health and environmental costs of burning fossil fuels, and implement the polluter pays principle, States should establish a global carbon tax with a floor price per ton for developing States and a higher floor price for developed States. The tax, covering as many emission sources as possible, should gradually increase every year. The incremental revenue generated by the higher price in developed countries could be used to finance mitigation and adaptation efforts in developing countries. E. Financing loss and damage 91. Twenty-eight years after the Alliance of Small Island States first proposed a mechanism to address loss and damage, it is time for action. States should agree on a common definition of the concept, including economic costs (such as damages to crops, buildings and infrastructure) and non -economic losses (such as loss of life, livelihoods, territory, culture, habitats or species). States must establish one or more new financing mechanisms that generate revenue to fund payments for loss and damage suffered by vulnerable developing countries, such as small island developing States, because of climate change. 92. Financing for loss and damage could be provided through an air travel levy, a levy on fuels used by the aviation and shipping industries, or a climate damages levy on the revenues of fossil fuel companies. A basic global air travel levy would raise $40–$100 billion annually (at $10–$25 per person per flight, given that current passenger levels exceed 4 billion per year). Air travel causes significant, largely unregulated emissions, and is used primarily by relatively wealthy people. A progressive air travel levy could impose higher payments on business and first-class tickets, as well as on longer flights. Nine States, including Cameroon, Chile, France and the Republic of Korea, have already adopted an air-ticket solidarity levy, with the proceeds going towards Unitaid, a global health initiative. F. Empowering United Nations institutions 93. The United Nations human rights mechanisms, including the treaty bodies, the Universal Periodic Review and the special procedures mandate holders, should be more proactive in promoting a safe climate and protecting human rights from climate impacts. They should: (a) Integrate climate change into their work through reporting, monitoring and fully implementing the existing recommendations of the treaty bodies, the Universal Periodic Review, the special procedures mandate hol ders and the Office of the United Nations High Commissioner for Human Rights, as well as the recommendations contained in the present report; (b) Consistently report on the extent to which States are fulfilling their human rights obligations relating to climate change; 19-11977 21/22