According to an Oxfam study, the super-rich around the world live like ecological vandals. Accordingly, they cause tens of times more climate-damaging greenhouse gases than the rest of humanity.
In contrast, the per capita emissions of the poorer half of the world’s population will remain well below the targeted 1.5 degree limit for global warming in 2030. The richest ten percent will probably exceed the value by nine times in 2030, and the richest percent even by 30 times.
Richest percent will soon be responsible for 16 percent of emissions
The study was presented by Oxfam at the World Climate Conference in Glasgow. According to the development organization, it is based on studies by the Institute for European Environmental Policy (IEEP) and the Stockholm Environment Institute (SEI).
The richest one percent – that is fewer people than the population of Germany – will be responsible for 16 percent of total global emissions by 2030, according to Oxfam. Nafkote Dabi, climate expert at Oxfam, said: “A small elite treat themselves to a free ticket for the destruction of our climate.” This has catastrophic consequences for millions of people who are already facing deadly storms, hunger and hardship. A billionaire causes more emissions on a single space flight than one of the poorest billion people can bring together in a lifetime.
One in four super-rich will be Chinese
According to the information, the study also shows that the geographic distribution of greenhouse gas emissions is no longer mainly composed of traditional industrialized countries. Almost a quarter (23 percent) of the richest one percent will be Chinese and a tenth (11 percent) will be Indian.
Tim Gore, author of the study at IEEP, said that governments should target their policies on the extremely rich. “This includes measures to limit CO2 consumption for luxury goods such as mega yachts, private jets and private space travel, as well as to limit climate-intensive investments such as shareholdings in the fossil fuel industry.”
Only on Thursday was EU Commission President Ursula von der Leyen criticized for a 20-minute charter flight from Vienna to Bratislava. Clear words came from both the European Taxpayers Association and the Bundestag. The flight was an “ecological sin,” said the General Secretary of the Taxpayers’ Association, Michael Jäger, of the “Bild” newspaper. (SDA)