Notification

The escalation of violence in Gaza and Israel is leaving people in Gaza in urgent need of humanitarian support. Please donate now.

Overview

The world’s richest people emit huge and unsustainable amounts of carbon and, unlike ordinary people, 50% to 70% of their emissions result from their investments. New analysis of the investments of 125 of the world’s richest billionaires shows that on average they are emitting 3 million tonnes a year, more than a million times the average for someone in the bottom 90% of humanity.

The study also finds billionaire investments in polluting industries such as fossil fuels and cement are double the average for the Standard & Poor 500 group of companies. Billionaires hold extensive stakes in many of the world’s largest and most powerful corporations, which gives them the power to influence the way these companies act. Governments must hold them to account, legislating to compel corporates and investors to reduce carbon emissions, enforcing more stringent reporting requirements and imposing new taxation on wealth and investments in polluting industries.

Publisher(s)

DOI

10.21201/2022.9684

ISBN

978-1-78748-968-4

How to cite this resource

Citation styles vary so we recommend you check what is appropriate for your context.  You may choose to cite Oxfam resources as follows:

Author(s)/Editor(s). (Year of publication). Title and sub-title. Place of publication: name of publisher. DOI (where available). URL

Our FAQs page has some examples of this approach.

Related resources

Here are similar items you might be interested in.

Browse all resources