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Billionaires Emit More Greenhouse Gases Than The Rest of Us - Factz



Billionaires Emit More Greenhouse Gases Than The Rest of Us

A recent study by Oxfam found that the investments of 125 of the world’s wealthiest billionaires cause 393 metric tons of carbon dioxide emissions yearly.

That’s the emissions equivalent of the entire country of France, which makes the average billionaire’s yearly output a million times higher than a person in the poorest 90% of the world’s population.

People outside the elite top 10% emit only 2.76 metric tons a year.

According to the study, around 14% of the billionaires’ investments were in “polluting industries.” That includes non-renewable energy and materials like cement.

Oxfam wants to expose the reality of the damage billionaires are doing to the environment and hold them accountable.

Danny Sriskandarajah, chief executive of Oxfam GB, said in a statement released to the COP27 climate summit, “The role of the super-rich in supercharging climate change is rarely discussed. [This] has to change. These billionaire investors at the top of the corporate pyramid have a huge responsibility for driving climate breakdown. They have escaped accountability for too long.”

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