Oxfam International
Climate love
Climate love
Sarah Chabane
6 w
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Carbon inequality kills, how the world's super rich are accelerating climate change - new Oxfam report
Private jets? Super yachts? Fossil fuel investments like there is no tomorrow? 😵💫 Oxfam's new report, Carbon Inequality Kills, reveals the massive role wealth inequality plays in turbocharging the climate crisis. The report highlights the massive emissions generated by the world’s wealthiest individuals, without curbing the excessive pollution by this elite minority we won't be able to to avert climate breakdown and achieve social justice.
So how bad is it? Pretty bad. The world’s wealthiest 1% are responsible for nearly half of aviation emissions alone. The carbon footprint of just 50 of the wealthiest billionaires’ private jets, yachts, and high-polluting investments exceeds that of the poorest 2%—approximately 155 million people combined. ⚠️
If everyone were to emit as much carbon as the top 1%, the world’s remaining "carbon budget" would vanish in less than five months. If this is not a climate warning, I don't know what is
This elite-driven pollution is more than a moral issue; it has economic and social consequences. Oxfam’s research estimates that emissions from just a few years of the top 1% have led to trillions in economic losses and crop failures, contributing to food shortages, extreme weather, and millions of excess deaths due to extreme heat. By consuming far more than their fair share of global resources, the ultra-wealthy create ripple effects that deepen the hardships for vulnerable communities worldwide.
Luxury transport is a primary driver of this inequality. Sales of high-polluting private jets have doubled in the past two decades (!!) contributing massively to carbon emissions. In 2023, for example, the private jets owned by just 23 billionaires each flew an average of 184 flights, or 425 hours in the air, equivalent to circling the globe ten times per individual. Superyachts, though often unused, produce over three times the emissions of private jets on average, primarily due to their enormous energy demands.
Source: Oxfam, Carbon Inequality Kills: https://oxfamilibrary.openrepository.com/bitstream/handle/10546/621656/bp-carbon-inequality-kills-281024-en.pdf?sequence=1
Perhaps the most significant, yet least visible, impact of the wealthy is through their investments in high-polluting industries like oil, mining, and cement. These "investment emissions" are found to be 340 times larger than the emissions from their private jets and yachts. Billionaires not only emit through luxury consumption but also support fossil fuel expansion and carbon-heavy industries, sustaining their environmental impact for generations. When they could be moving the money to the climate transition instead.
So how can we break the cycle of inequality? Oxfam argues that meaningful climate action cannot happen without systemic changes in wealth distribution and accountability for the rich. Here are some recommendations from the report:
Higher Taxes on the Super-Rich: A global tax on the wealthiest 1% could significantly cut emissions. Oxfam proposes progressive taxes on income, wealth, and specifically on investments in polluting industries. Something that is also supported by the Earth4All report by example.
Luxury restrictions: Oxfam suggests banning private jets and superyachts or taxing them at punitive rates to discourage excessive luxury emissions. Schipol airport did it last year for example.
Corporate accountability: Corporations must disclose emissions across their supply chains, set reduction targets, and be held accountable for lobbying against climate policies.
Climate reparations: Wealthier nations and individuals, who have disproportionately contributed to climate breakdown, should pay for climate adaptation and recovery in affected regions.
Source: Oxfam, Carbon Inequality Kills: https://oxfamilibrary.openrepository.com/bitstream/handle/10546/621656/bp-carbon-inequality-kills-281024-en.pdf?sequence=1
Addressing climate change is not just about reducing emissions; it is about radically reducing inequality. As we head to COP29 let's keep this in mind and push for action on this point.
Carbon Inequality Kills: Why curbing the excessive emissions of an elite few can create a sustainable planet for all - Oxfam Policy & Practice
The only way to beat climate breakdown and deliver social justice is to radically reduce inequality. This briefing paper reveals the catastrophic climate impacts of the richest individuals in the world, and proposes taking urgent action to protect people and the planet. What little carbon dioxide we can still safely emit is being burned indiscriminately […]
https://policy-practice.oxfam.org/resources/carbon-inequality-kills-why-curbing-the-excessive-emissions-of-an-elite-few-can-621656/
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It's true that climate change is not about reducing emissions alone. It's all about changing the inequality in which a few people live irresponsible lives that make others suffer due to climate change.
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6 w
Dear Sarah Chabane Your climate love has received over 50 agrees! We have reached out to Oxfam International by email and requested a response. I will keep you updated on any progress! To reach more people and increase the chance of a response, click the Share button above to share the review on your social accounts. For every new member that joins We Don't Have Time from your network, we will plant a tree and attribute it to you! /Adam, We Don't Have Time
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6 w
This is a great piece of information. This highlights the urgency for policy changes and collective action to address the disproportionate carbon emissions from the wealthiest individuals and reduce environmental degradation.
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@walter_lungayi If some laws were to be made requiring governments to charge institutions, companies, or individuals according to what they emit, this would help.
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6 w
The ultra wealthy need to be conscious of their carbon foot print.They have the ability to go green with their mobility and create a sustainable world for us all.
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@Kevin They'd change and go green in a heartbeat if there was pressure from the government. Our government needs to work on this ASAP.
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6 w
The Ecocide law should come into place. This will assist in forcing the super rich to be cautious to avoid consequences.
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@tabitha_kimani Very true as long as there is no corruption this will help.
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6 w
Without addressing the excessive pollution from this elite minority, it will be challenging to avert climate breakdown and achieve social justice.
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6 w
The wealthy should make sure that they cut the amount of pollution they bring about so as to deal with climate change .
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We all should be considerate of the kind of pollution that we bring about no matter how wealthy one is.
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@rosebellendiritu Pollution affects everyone, regardless of wealth or status, and the responsibility for reducing it lies with all of us
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Oxfam’s work is a lifeline, shining a light on the inequalities driving climate injustice and urging real action. We need more organizations with the bravery and vision of Oxfam to make sure the voices of the vulnerable are heard and that the rich are held accountable.
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@princess_nel_268 The super rich have created a crisis they can help avert.Laws should be in place to ensure proper channelling of funds to mitigate the climate crisis.