CLIMATE EQUALITY- A PLANET FOR THE 99%
In 2019, the super-rich 1%
were responsible for
of global carbon emissions,
which is the same as the emissions of the poorest 66% of humanity (5 billion people)
“For years we’ve fought to end an era of fossil fuels to save millions of lives and our planet. It’s clearer than ever this will be impossible until we also end an era of extreme wealth,” said Oxfam International interim Executive Director Amitabh Behar.
Since the 1990s the richest 1 % have burned through
more than twice as much carbon
as the bottom half of humanity
Understanding the role of super-rich and rich people (the top 1% and 10% by income) in climate breakdown is essential if we are to successfully stabilize our planet and guarantee a good life for all of humanity.
The super-rich are key to the climate story in three ways:
1- through the carbon they emit in their daily lives, from their consumption, including from their yachts,
private jets and their lavish lifestyles;
2- through their investments and shareholdings in heavily polluting industries and their vested financial
interest in the economic status quo;
3- through the undue influence they have over the media, the economy, and politics and policy making.
As a result, they are robbing the rest of humanity of life on a healthy, liveable and more equal planet. New research by Oxfam and the Stockholm Environment Institute examining carbon emissions across global income groups shows just how pronounced this carbon inequality is.
• Africa’s emissions were less than 4 percent, despite the continent being home to 17 percent of the world’s populations.
• More than 91 Percent of deaths caused by climate-related disasters of the past 50 years occurred in developing countries
• The death toll from floods is 7 times higher in the most unequal countries compared to more equal countries.
• Taxes on the wealth and income of the richest could raise over $9 trillion a year to invest in a green equal future for all.
• Politicians from the US, UK, EU and Australia, responsible for passing laws to tackle climate breakdown, are all in the global top 1% of carbon emitters.