planet millionaires They are the main responsible for the climate crisis This is the situation we face and continue to face today. Specifically, the richest one percent of the world’s population is responsible for the same amount of carbon emissions as the world’s poorest two-thirds (5 billion people), according to an analysis published by the humanitarian organization Oxfam International.
While tackling the climate crisis is a common challenge, Not everyone is equally responsible and government policies should act accordingly.Max Lawson, co-author of the report, said in a statement to the AFP agency.
“The wealthier you are, the easier it will be to reduce your emissions“It’s both personal and investment,” he said. “You don’t need a third car, a fourth holiday or an investment in the cement industry.”
The study is titled ‘Climate equality: One planet for the 99%’, and is based on research compiled by the Stockholm Environment Institute (SEI) and examines consumption emissions associated with different income groups up to 2019.
Fears are growing that it will be impossible to limit long-term warming to 1.5 degrees Celsius as envisioned in the Paris Agreement
This investigation was made public at that time World leaders prepare to meet at the COP28 climate summit in Dubai in the coming days. The summit comes as fears grow that it will be impossible to limit long-term warming to 1.5 degrees Celsius, as envisaged in the Paris Agreement. In fact, recent reports indicate that the planet is heading towards 3°C, twice the designated temperature.
77 million people emit 16% of the world’s total
The most important findings of this study include: The world’s richest 1 percent (77 million people) were responsible for 16 percent of global emissions It relates to their consumption in the analyzed period.
This is the same amount of emissions produced by the lowest-income 66 percent of the world’s population (5.1 billion people).
The income threshold for being among the world’s richest 1 percent was adjusted by country using purchasing power parity; For example, in the United States the threshold is $140,000, while the equivalent in Kenya would be around $40,000.
A detailed analysis by country also reveals rather pessimistic pictures.
For example, In France, the richest 1 percent emit as much carbon in one year as the poorest 50 percent in 10 years.
For example, excluding carbon from his investments, Bernard Arnault, the billionaire founder of Louis Vuitton and France’s richest man, has a footprint 1,270 times larger than the footprint of the average Frenchman, according to Oxfam International.
“Unless governments enact progressive climate policy, People who emit the most make the biggest sacrifices“We’ll never have good policy on this,” Max Lawson said.
These measures could include, for example, a tax on flights if more than ten flights are made per year, or a tax on non-green investments that is much higher than the tax on green investments.
While the current report focuses only on carbon linked to individual consumption, “The personal consumption of the super-rich is dwarfed by the emissions from their investments in companies.”” says the report.
The rich also don’t invest in polluting industries at the same rate as any other investor: Billionaires are twice as likely to invest in polluting industries as the average population, according to the study.
Full report: https://www.oxfam.org/en/research/climate-equality-planet-99
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