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Climate Equality: A Planet For The 99% : Oxfam Report

Climate Equality: A Planet For The 99% : Oxfam Report

As per the recently released Oxfam report (Climate Equality: A Planet for the 99%), the richest 1% of the global population emitted carbon equivalent to the poorest 66%, leading to 1.3 million heat-related deaths.

  • Climate inequality refers to the unequal distribution of the impacts of climate change, with vulnerable and marginalized communities experiencing disproportionate effects.
  • It encompasses disparities in exposure to climate-related risks, access to resources for adaptation, and the contribution to greenhouse gas emissions.

Major findings of the Report:

  • In 2019, the wealthiest 1% were responsible for 16% of global carbon emissions, equivalent to emissions from the poorest 66% of humanity
  • Since the 1990s, the top 1% emitted twice the carbon budget of the poorest half
  • By 2030, emissions are projected to be over 22 times the safe limit for staying below 1.5°C global warming.
  • Annual global emissions by the super-rich 1% cancel out carbon savings for almost a million onshore wind turbines.
  • A tax of 60% on the incomes of the super-rich 1% of earners globally would cut the carbon equivalent of more than the total emissions of the UK and raise over US$6 trillion to fund renewable energy and a transition away from fossil fuels.