Richest one percent of the population is responsible for sixteen percent of CO2 emissions

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Oxfam development organisation is very critical of the” excessive ” emissions of the richest 1 percent of the world’s population. According to a study commissioned by Oxfam assumes that the wealthiest 1 per cent by 2030, is expected to be 16 percent of the total global CO2 emissions, which, for example, by private jets, sport cars, mega yachts, and excessive consumption habits of the super rich.

The study, presented at the COP26 climate summit in Glasgow, shows that the carbon footprint of the richest 1 percent, fewer people than the population of Germany, is estimated to be 30 times too large to meet the Paris climate agreement’s target of limiting global warming by up to 1.5 degrees by 2030. The emissions of the poorest half of the world’s population are well below the level for that objective.

“The excessive emissions of the richest citizens on Earth seriously jeopardise the goal of the Paris Climate Agreement” and these emissions must be drastically reduced”, said Hilde Stroot, climate expert at Oxfam, in a statement. She says otherwise climate change will have catastrophic consequences for the most vulnerable people in poorer countries who are already facing deadly storms, extreme droughts, hunger and poverty.

According to the study, a person in the richest 1 percent of the world’s emissions, with approximately 97% reduction compared with the desired level of a 1.5-stage to pick it up. World leaders need to do a lot more about this, Oxfam says. For the poorest half of the world’s population, even if their emissions increase, the 1.5 degree target is still achievable.

United Nations chief António Guterres writes in the report that in the last 25 years, the richest 10 percent of the world’s population has been responsible for more than half of global emissions. He says that inequality and injustice on this scale is,” a cancer”. ,” If we do nothing now, this century could be our last, ” says Guterres.

 

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