Rich v Poor Imbalance In Carbon Emissions

A new report from Oxfam has revealed that the richest 1% of the world’s population is responsible for more than double of the carbon emissions than the poorest 50%. The charity looked at carbon dioxide emissions over a 25 year period from 1990 to 2015 and found that CO2 levels rose by 60%. Oxfam’s report, which was produced in partnership with the Stockholm Environment Institute found that the world’s richest 1% were producing three times more emissions than the poorest half and that overconsumption and an addiction to high-carbon transport were exhausting the world’s carbon budget. The world’s richest 1% according to Oxfam earn more than $100,000 a year, while the richest 10% earn more than $35,000 a year and are responsible for about 52% of emissions over the 25-year period. Oxfam said more needs to be done by the richest nations to ensure that the poorest nations have better access to basic amenities and that while a shift to renewable energy may redress the balance, the carbon budget should be spent on improving the lives of the poorer 50%. The Oxfam report also points out that the poorer nations are often feeling the worst impacts of climate change, with the recently deadly cyclones in India and Bangladesh cited as examples. Danny Sriskandarajah, chief executive of Oxfam in the UK, said: "Extreme carbon inequality is a direct consequence of the decades-long pursuit by governments and businesses of grossly unequal and carbon intensive economic growth whatever the cost. “Climate change is already causing immense hardship for many people. To prevent greater suffering, we need bold and urgent action to radically cut emissions before it's too late."