The richest 1% emit as much CO2 emissions as the poorest two-thirds of the population of the planet, according to a new report by Oxfam.
In 2019, the carbon emissions of the richest 1% soared to 16% of the world’s total, equalling the amount of emissions produced by the poorest five billion people.
Oxfam’s report, based on research with the Stockholm Environment Institute (SEI), assessed the consumption emissions of different income groups.
The study’s findings highlight the gap between the carbon footprints of the super-rich, whose lifestyles and investments in fossil fuels are carbon-heavy, and the rest of the world.
Chiara Liguori, Oxfam’s senior climate justice policy adviser, said that the super-rich are “plundering the planet” while the poor pay the price.
“The huge scale of climate inequality revealed in the report highlights how the two crises are inextricably linked – fuelling one another – and the urgent need to ensure the rising costs of climate change fall on those most responsible and able to pay,” she said.
“The gap between the super-rich and the rest of us is stark. It would take about 1,500 years for someone in the bottom 99% to produce as much carbon as the richest billionaires do in a year. This is fundamentally unfair.
“Governments globally, including the UK, need to tackle the twin crises of inequality and climate change, by targeting the excessive emissions of the super-rich by taxing them more.
“This would raise much needed revenue that could be directed to a range of vital social spending needs, including a fair switch to clean, renewable energy as well as fulfilling our international commitments to support communities who are already bearing the brunt of the climate crisis.”