One Billionaire emits a Million times more CO2 than an Average Person. Protesters block Private Planes at Amsterdam


Ann Arbor (Informed Comment) – Oxfam has a new study, Carbon Billionaires: The investment emissions of the world’s richest people. Zeroing on 150 billionaires in the sample, a tiny proportion of the top one percent numerically but a significant proportion of the latter’s wealth holdings, the study found that together they had a stake in 183 companies that is valued at $2.4 trillion.

The Executive Summary says that They concluded that quite apart from the 3,300 or so billionaires, the wealthiest one percent in the world emit twice as much carbon dioxide as the bottom 50%. The top one percent, about 80 million people, are a big carbon problem, because if they go on as they are, their CO2 emissions alone will be 30 times larger than is compatible with keeping the heating of the earth to only 1.5°C above preindustrial times– the goal of the 2015 Paris Climate agreement….