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Oxfam’s Report

By Amigos IAS

Why is it in the news?

  • Recently, the Oxfam has released a report titled “Climate Equality: A Planet for the 99%”.
  • The report highlights the twin challenges of Climate Breakdown and Extreme Inequality as critical issues facing humanity.

 

Key Findings of the Report

Key FindingsStatistics / Details
Wealthiest 1% of the global population emissionsResponsible for 16% of global carbon emissions in 2019, equivalent to emissions of the poorest 66% of humanity.
Carbon budget consumptionSince the 1990s, the top 1% has consumed twice as much of the global carbon budget as the poorest half of humanity combined.
Projected emissions exceeding safe limit by 2030Emissions of the top 1% projected to exceed the safe limit (1.5°C global warming) by over 22 times by 2030.
Heat-related deaths attributed to 2019 emissionsEmissions from the super-rich 1% in 2019 estimated to have caused 1.3 million deaths due to heat-related effects.

 

Policy Recommendations

  • Advocate for a radical increase in equality, with governments implementing proven policies to significantly reduce the wealth gap between the richest individuals and the rest of the population.
  • Encourage a fast and just transition away from fossil fuels by imposing new taxes on corporations and billionaires. These taxes would help drive down emissions substantially and provide funding for a sustainable energy transition.
  • Prioritize human and planetary well-being over relentless profit, resource extraction, and excessive consumption as a new guiding principle for policy and governance.
  • Highlight the importance of addressing Climate Inequality, where certain communities face a disproportionate impact of climate change due to existing vulnerabilities, historical inequities, socioeconomic disparities, and systemic environmental injustices.
  • Advocate for Climate Equality, which involves ensuring an equitable distribution of the benefits of climate protection efforts and alleviating the unequal burdens created by climate change.

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