“Super rich” emit as much carbon pollution as poorest 66% combined, Oxfam report finds

It would take about 1,500 years for those of us in the 99% to emit as much carbon as the world’s richest billionaires do in a single year now that’s one of several startling insights from a new Oxfam report that finds the world’s richest 1% produced more emissions than 5 billion of the world’s

Poorest people not only are the super rich getting richer but they are disproportionately responsible for driving climate change they own multiple homes HS they travel around the world on private jets and they have very high consumption Lifestyles and it’s not just lavish Lifestyles Oxfam says the super rich also invest in polluting Industries

And profit of them the excess heat caused by a single Year’s worth of emissions from the world’s richest will kill nearly 1.3 million people this Century but Oxfam says the rich will remain insulated from the impact worst affected by climate change are marginalized groups and those already living in poverty indigenous peoples

Racialized people uh women living in poverty are those who are hardest hit by climate change oxam is proposing a billionaire wealth tax on the richest Canadians multi-millionaires and billionaires talking about kind of the richest 13,000 households in Canada to pay into ATT tax that would support climate Solutions another recommendation

Is a windfall tax on companies excess profit with those funds then diverted to Green Solutions now coming just ahead of the un’s cop 28 climate Summit Oxfam is pushing governments globally to consider these taxes which they say will help address both wealth inequality and the climate crisis Nita ganguli Global News Toronto

The world’s richest one per cent contributed as much carbon as the five billion people who comprise two-thirds of the globe’s poorest in 2019, according to a new report published Monday by Oxfam — an independent organization focused on alleviating global poverty.

Additionally, the report noted it would take about 1,500 years for someone in the bottom 99 per cent to “produce as much carbon as the richest billionaires do in a year.”

According to Oxfam, the size of the emissions from the “super rich” is enough to cause 1.3 million excess deaths due to heat, with most of these expected to take place between 2020 and 2030.

Global News’ Nivrita Ganguly has more on the report and the dire consequences this could have in the coming years.

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