‘Setting the planet on fire’: Richest 0.1% emit more carbon than poorest 3.5 billion, Oxfam says
The ultra-rich cause an outsized share of emissions while others pay for the damage. Experts say the answer is pressure, not guilt.
A new Oxfam report reveals that the world's richest 0.1%, comprising 8 million people, emit more carbon pollution than the poorest 3.5 billion combined. In the U.S., the richest 0.1% release 108 times more CO2 per person than the poorest half of the nation. This disparity stems largely from private aviation. Private jets emit 16 million tons of CO2 annually, equivalent to two seconds of emissions from all private jets globally.
According to Oxfam, private jets enable the ultra-wealthy to flee disasters, while the rest suffer the consequences through damaged homes, disrupted food supplies, and unaffordable insurance. Climate economist Gernot Wagner states, "The ultra-rich are setting the planet on fire and then charging the rest of us for the extinguishers."
Oxfam urges taxes on wealthy polluters, fossil fuel companies, and high-emitting luxuries like private jets, alongside increased funding for poorer countries to adapt.
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