Ultrawealthy Produce More Carbon Than Half of Humanity
The gist
Oxfam's "Disaster Divide" report says the richest 1% produce more carbon emissions than the poorest 3.5 billion people.
The findings precede COP31 and fuel calls to tax private jets.
How it unfolded
- 1990Since 1990, the richest 1% have been responsible for 20% of global warming, according to Oxfam.
- 2020Since 2020, the wealth of billionaires dominating major food trading companies has increased by $120bn, Oxfam says.
- 2024Extreme weather in west Africa drove cocoa prices up 231%, and local farmers saw none of the gains, according to Oxfam.