Gaby
The authors of a new Oxfam report, titled “Climate Inequality: A Planet for 99%,” have reached a striking conclusion. Based on research from the Stockholm Environment Institute (SEI), the report highlights that the ultra-wealthy are “burning our world” through excessive carbon dioxide emissions, which in turn contribute to global warming.
Oxfam is an international confederation of 17 organizations operating in over 90 countries, dedicated to addressing poverty and combating the associated injustices worldwide.
According to this extensive study, the wealthiest one percent of people emit as much carbon dioxide (CO2) into the atmosphere as the poorest two-thirds of the global population combined.
Among the plutocrats identified in the report as primary culprits are Oracle founder Larry Ellison, Mexican business magnate Carlos Slim, and Tesla and X CEO Elon Musk.
Interestingly, many of the richest individuals are seriously preparing to escape Earth in the event of a global climate catastrophe. For instance, Elon Musk is exploring options for evacuating wealthy humans to Mars.
The Poor Suffer Most from Climate Inequality
For the report, a team of experts utilized previous studies on emissions across various countries, attributing them to different socioeconomic groups. They categorized the population into three groups: the ultra-rich and wealthy, middle-income individuals, and the poorest.
The researchers employed a “mortality cost” formula, which indicates that every million tons of carbon emissions results in 226 additional deaths globally. They found that the CO2 emissions from the wealthiest one percent will lead to an estimated 1.3 million additional climate-related deaths, with the majority occurring between 2020 and 2030.
In comparison, it would take the poorest person on the planet about 1,500 years to produce the same amount of harmful emissions that a billionaire generates in just one year.
The ultra-rich are responsible for the largest share of greenhouse gas emissions, as they possess numerous assets with significant carbon footprints, such as cars, planes, and large buildings.
The authors of the study note that the poorest countries are suffering the most from the climate crisis, primarily because they cannot afford to invest adequately in measures to mitigate the effects of global warming, such as flood defenses or air conditioning. This climate inequality results in the highest mortality rates in these nations, as reported by the Daily Mail.
Moreover, the carbon emissions from the wealthiest one percent will exceed the levels compatible with the Paris Agreement’s goal of limiting temperature rise to 1.5°C by 2030 by a staggering 22 times.
This report comes ahead of the upcoming UN Climate Change Conference COP28, which will take place in Dubai from November 30 to December 12.
