It explored the causes and consequences of carbon inequality and the disproportionate impact of super-rich individuals, who have been termed “the polluter elite”.
Their findings are the following:
The richest 1% of humanity is responsible for more carbon emissions than the poorest 66% (5 billion people), with dire consequences for vulnerable communities and global efforts to tackle the climate emergency.
The emissions from the 1% alone would be enough to cause the heat-related deaths of 1.3 million people over the coming decades.
A tax of 60% on the incomes of the super-rich 1% of earners globally would cut the carbon equivalent of more than the total emissions of the UK and raise US$6.4 trillion to fund renewable energy and a transition away from fossil fuels.
It would take about 1,500 years for someone in the bottom 99% to produce as much carbon as the richest billionaires do in a year.
Oxfam concluded that:
'Only a radical reduction in inequality, transformative climate action and fundamentally shifting our economic goals as a society can save our planet while ensuring wellbeing for all.'
Climate justice will be high on the agenda of COP28 - let's hope we will see some much-needed progress there.