World’s richest 1% cause double CO emissions of poorest 50%

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Stockholm, Oct. 3: The wealthiest 1% of the world’s population were responsible for the emission of more than twice as much carbon dioxide as the poorer half of the world from 1990 to 2015, according to new research. Carbon dioxide emissions rose by 60% over the 25year period, but the increase in emissions from the richest 1% was three times greater than the increase in emissions from the poorest half.

The report, compiled by Oxfam and the Stockholm Environment Institute, warned that rampant overconsumption and the rich world’s addiction to highcarbon transport are exhausting the world’s “carbon

budget”. Such a concentration of carbon emissions in the hands of the rich means that despite taking the world to the brink of climate catastrophe, through burning fossil fuels, we have still failed to improve the lives of billions, said Tim Gore, head of policy, advocacy and research at Oxfam International. “The global carbon budget has been squandered to expand the consumption of the already rich, rather than to improve humanity,” he told the Guardian. “A finite amount of carbon can be added to the atmosphere if we want to avoid the worst impacts of the climate crisis. We need to ensure that carbon is used for the best.” The richest

10% of the global population, comprising about 630 million people, were responsible for about 52% of global emissions over the 25-year period, the study showed. Globally, the richest 10% are those with incomes above about

$35,000 (£27,000) a year, and the richest 1% are people earning more than about

$100,000.