“The richer you are, the easier it is to reduce your personal emissions and those linked to your investments,” according to Max Lawson, co-author of the report published by the anti-poverty NGO.
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The richest 1% on the planet emit as much greenhouse gas as two-thirds of the poorest population, or around five billion people, according to an Oxfam report published on Sunday November 19.
If the fight against climate change, linked to human activities, is a common challenge, some are more responsible than others and government policies must be adapted accordingly, Max Lawson, co-author of the published report, told AFP by the anti-poverty NGO. “The richer you are, the easier it is to reduce your personal emissions and those linked to your investments”according to him. “You don’t need a third car, a fourth vacation or (…) to invest in the cement industry.”
Bernard Arnault emits 1,270 times more greenhouse gases than an average French person
The report, titled “Climate equality: a planet for the 99%”, draws on research compiled by the Stockholm Environment Institute (SEI) and analyzes consumption-related emissions associated with different income categories through 2019.
The annual income threshold to be part of the richest 1% has been adjusted by country according to purchasing power parity – for example, in the United States, the threshold is 140,000 dollars (128,000 euros) and the Kenyan equivalent of around $40,000. Thus, in France, in 10 years, the richest 1% have emitted as much carbon in one year as the poorest 50%. Excluding emissions associated with his investments, Bernard Arnault, the French CEO of luxury group LVMH and the richest Frenchman, has a carbon footprint 1,270 times greater than that of the average French person.
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“We believe that unless governments adopt progressive climate policy, where the people who emit the most are asked to make the greatest sacrifices, we will never get good policies in this area”, estimated Max Lawson. This could consist of a tax for those who make more than 10 flights per year or a tax on non-ecological investments that is much higher than the tax on ecological investments.