The top 1% are projected to account for 16% of total emissions by 2030, while the poorest 50% will emit just one tonne of CO2 annually.
A new study reveals that the carbon dioxide emissions of the wealthiest 1% are set to be 30 times higher than what is necessary to keep global heating under 1.5C, a key target outlined in the Paris Agreement. According to the research, the richest 1% will contribute to 16% of global emissions by 2030, a significant increase from 13% in 1990, while the poorest half of the world’s population will produce just one tonne of CO2 per person annually.
The study highlights the disparity in carbon consumption, with the wealthiest individuals, who constitute a fraction of the global population, on track to emit an average of 70 tonnes of CO2 each year, driven by “luxury carbon consumption” such as private jets, megayachts, and space travel. This level of consumption, if left unchecked, threatens to undermine global efforts to limit global warming.
Nafkote Dabi, climate policy lead at Oxfam, which commissioned the study, emphasized the impact of these emissions on global weather patterns and the risk they pose to achieving the international goal of limiting global temperature rise. She called on governments to take action and “constrain luxury carbon consumption” to protect the future of the planet.
