“The very richest individuals in the world are funding and profiting from climate destruction, leaving the global majority to bear the fatal consequences of their unchecked power.”
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A report released in October showed that the wealthiest people on the planet are disproportionately fueling the climate emergency that is intensifying weather catastrophes like Hurricane Melissa, which slammed Cuba after leaving a trail of devastation in Jamaica.
The Oxfam International report, titled Climate Plunder: How a Powerful Few Are Locking the World Into Disaster, features updated figures showing that the consumption-based carbon emissions of the richest 0.1 percent of the global population grew by 92 tonnes between 1990 and 2023, while the emissions of the poorest half of humanity grew by just 0.1 tonnes.
“A person from the world’s richest 0.1 percent emits over 800kg [~1,764 pounds] of CO2 every day. Even the strongest person on earth could not lift this much,” the report notes. “In contrast, someone from the poorest 50 percent of the world emits an average of just 2kg (~4 pounds) of CO2 per day, which even a small child could lift.”
“A person in the top 0.1 percent emits more in a day than a person in the poorest 50 percent emits all year,” the report adds.
The destruction caused by Hurricane Melissa — the most powerful storm on Earth this year and the strongest to ever hit Jamaica — underscored the extent to which vulnerable nations are bearing the brunt of a crisis they did little to cause as wealthy countries and individuals continue to spew planet-warming emissions with abandon.
Jamaica, where the true extent of the damage from Melissa is only just beginning to emerge, is responsible for an estimated 0.02 percent of global greenhouse gas emissions, according to the latest available data.
“The climate crisis is an inequality crisis,” said Oxfam Executive Director Amitabh Behar. “The very richest individuals in the world are funding and profiting from climate destruction, leaving the global majority to bear the fatal consequences of their unchecked power.”
“We must break the chokehold of the superrich over climate policy by taxing their extreme wealth.”
Oxfam’s report was published less than two weeks before the start of COP30 in Belém, Brazil, where world leaders gather once again to weigh climate solutions after years of failing to reach an agreement to curb fossil fuel production and use.
In its new report, Oxfam implores governments to target the emissions of the ultra-wealthy, including through “climate-specific taxes” such as “frequent flyer levies and taxes on luxury travel.”
“It is a travesty that power and wealth have been allowed to accumulate in the hands of a few, who are only using it to further entrench their influence and lock us all into a path to planetary destruction,” said Behar. “We must break the chokehold of the superrich over climate policy by taxing their extreme wealth, banning their lobbying, and instead put those most affected by the climate crisis in the front seat of climate decision-making.”
This story by Jake Johnson was originally published by Common Dreams and is part of Covering Climate Now, a global journalism collaboration strengthening coverage of the climate story. WhoWhatWhy has been a partner in Covering Climate Now since its inception in 2019.
