The world's ace affluent are investing successful industries that are harming the environment, according to a study connected clime alteration by the planetary enactment Oxfam.
What to Know
The wealthiest 1% of humanity is liable for twice arsenic overmuch carbon emissions arsenic the poorest 50% of the world's population; that magnitude of emissions is unsustainable.
By 2030, the carbon footprints of the ultra-wealthy are acceptable to beryllium 30 times greater than the level compatible with the 1.5° C goal of the Paris Agreement.
Billionaires are investing successful polluting industries, specified arsenic fossil fuels and cement, astatine double the mean rate for the S&P 500. The individual annual mean is simply a million times higher than idiosyncratic successful the bottom 90% of humanity.
Billionaires and corporations that do not publicly reveal their emissions (and are truthful not included successful the research) are apt to beryllium those that person a high interaction connected climate.
Fewer than 1 successful 3 of the 183 corporations reviewed by Oxfam are moving with the Science Based Targets Initiative, conscionable 16% person acceptable net zero targets, and lone 1 billionaire successful the illustration had investments successful a renewable vigor company.
This is simply a summary of the article, "Carbon Billionaires: The Investment Emissions of the World’s Richest People," published by OxFam connected November 6, 2022. The afloat nonfiction tin beryllium recovered connected oxfamamerica.org.
For much news, travel Medscape connected Facebook, Twitter, Instagram, and YouTube.
English (US)