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 Findings | Statistics / Details |
| Wealthiest 1% of the global population emissions | Responsible for 16% of global carbon emissions in 2019, equivalent to emissions of the poorest 66% of humanity. |
| Carbon budget consumption | Since 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 2030 | Emissions 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 emissions | Emissions 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.
