The carbon emissions of the world's richest 1 per cent are thought to be the same as poorest two thirds of humanity. Demands for climate policies targeting the polluting activities of the super-rich are rapidly gaining traction. Several countries have so far proposed billionaire taxes to raise funds for, among other things, tackling climate change.
Earlier this year It could raise around €230 billion to tackle causes like climate change and poverty. Disagreements have been bubbling away under the surface about whether the plan is viable, who would oversee the process, and how to actually introduce a tax on the super-rich. New research has shown that the general population finds it hard to estimate exactly how wealth changes people’s carbon footprint.
And that could affect their support for . So just how vast is the difference in emissions? An analysis by Oxfam and researchers in the US from November last year looked at the luxury purchases and financial investments of 12 billionaires. It found that they account for almost 17 million tonnes of greenhouse gases each year - the same as 2.
1 million average homes or 4.6 coal-fired power plants annually. Previous research has also shown that the wealthiest 1 per cent of people contribute more emissions than two-thirds of all humanity.
And , according to a study from last year by Green Alliance, releases 10 times more carbon for each passenger than commercial flights. European private jet emissions have soared in recent years, w.