That’s a shocking headline
The world’s richest 1% of people are responsible for around the same percentage of global carbon emissions as the 5 billion people who represent the 66% poorest, according to a report published by Oxfam.
In the report he wealthiest 10% were responsible for 50% of global emissions, it found, while the bottom 50% were responsible for just 8%.
The top 1% represents 77 million people and is defined in the report as having an estimated income threshold of $140,000 per year, and an average income of $310,000.
The report states that personal consumption varies depending on factors such as location, use of renewable energy and transport where the very wealthiest contribute significantly more due to the use of private jets and yachts.
It also includes between 50% and 70% of emissions by the 1% coming through investments in companies, measured by taking firms’ reported emissions and distributing that proportionate to shareholder ownership of those firms by the 1%.
See report here.