The richest 1 percent emit twice as much as the poorest half

The richest 1 percent of the world’s population emits twice as much carbon as the poorest half. That means about 70 million people cause twice as much emissions as the poorest 3.5 billion people, according to research conducted on behalf of Oxfam.

According to the researchers, emissions of the richest 1 percent will threaten Paris’s climate goals. In 2015, it was agreed to limit global warming to 1.5°C. A person in the richest 1 percent would need to reduce their emissions by about 97 percent compared to today to meet the climate goal.

space travel

According to Oxfam, the exceptionally wealthy group has excessive consumption habits. They fly a lot, and space flights, like the one recently done by Amazon owner Jeff Bezos, emit a massive amount of carbon dioxide, says Development Aid.

The share of the richest group is only expected to increase in the future. Their CO2 emissions are expected to be 30 times in nine years to meet the Paris climate goals.

Oxfam Novib believes that governments should do more to reduce the emissions of the wealthy. “All countries must agree to come back next year with stricter agreements to limit global warming,” says Hilda Strout, climate expert at Oxfam Novib. “There is a lot of profit to be made from the wealthy, so making airline tickets more expensive with taxes will go a long way.”