The year has just started and according to an analysis by Oxfam, the richest 1% on the planet have already consumed the equivalent of their carbon budget for the entire year. On the contrary, the poorest half of the planet should not use theirs in full.
We know that, to limit the global warminghumanity must reduce its greenhouse gas emissions. The quantities not to be exceeded have therefore been calculated. This is what we call the remaining “carbon budget”. And, by 2050, we should limit ourselves to around two tonnes per person each year. It’s barely more than a Paris-New York round trip.
But the richest 1% on the planet would have already spent their budget in ten days. This includes their lifestyle, possibly including private jets or yachts, and their investments.
-76 tonnes of CO2
So, this is just an estimate. Oxfam made its calculations using a 2019 database. But this gives an idea of the inequalities. In one year, a person belonging to the poorest half emits only 0.7 tonnes of CO2. One belonging to the 1% the richestemits 76 tonnes of CO2. If everyone did the same, the budget would be exhausted in five months, according to Oxfam.
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