Richest 1% use their entire annual carbon limit in just 10 days
www.oxfamamerica.org
The richest 1% have used their share of the annual global carbon budget —the amount of CO2 that can be added to the atmosphere wi
  • will_a113@lemmy.mlEnglish
    321·
    12 days ago

    Oxfam’s research shows that the richest 1% —comprising 77 million individuals, including billionaires, millionaires, and those earning over $140,000 per year in PPP terms— were responsible for 15.9% of global CO2 emissions in 2019. The bottom 50% (3.9 billion people with an average annual income of $2,000 in PPP terms) accounted for 7.7%

    Billionaires and the other 0.01% (not 1%) account for a ludicrously outsized amount of Carbon spend. However the Oxfam research really calls out how outsized even a much Carbon even a much more modest American lifestyle is. $140k/year is a lot even in the US, but still well within what many would call “normal”, especially in pricier areas. We spend a lot of time attacking billionaires for their lifestyles (and don’t get me wrong – fuck them all), but the problem is a lot larger than that.

    • MrMakabar@slrpnk.netEnglish
      20·
      12 days ago

      It also shows how incredible the impact of the wealth gap on climate issues is even in rich countries like the US. The 1% having per capita emissions of 76t, whereas US average is at 17.6t. It is even starker in Europe with a lot of rich people, but lower per capita emissions.

  • jagged_circle@feddit.nlEnglish
    6·
    11 days ago

    Does this include the emissions of the companies that they own?

    Edit: it includes companies they own

    "the super-rich continue to squander humanity’s chances with their lavish lifestyles, polluting stock portfolios and pernicious political influence. This is theft —pure and simple― a tiny few robbing billions of people of their future to feed their insatiable greed.”

  • jagged_circle@feddit.nlEnglish
    4·
    11 days ago

    Oxfam calls on governments to:

    • Reduce the emissions of the richest. Governments must introduce permanent income and wealth taxes on the top 1%, ban or punitively tax carbon-intensive luxury consumptions —starting with private jets and superyachts— and regulate corporations and investors to drastically and fairly reduce their emissions.
    • Make rich polluters pay. Climate finance needs are growing rapidly, especially in Global South countries bearing the brunt of climate impacts. While rich countries agreed to mobilize $300 billion a year to help Global South countries cope with warming temperatures and switch to renewable energy, this amount falls drastically short from the $5 trillion climate the Global North owes in climate debt and reparations.

    /ENDS

    Daymn oxfam is based