The Great Carbon Divide

In a comprehensive study by Oxfam, the wealthiest 1% account for more substantial carbon emissions than the poorest 66%. The so-called “polluter elite” consists of the wealthiest individuals, corporations, and nations that immensely contribute to the world’s degradation. But, those living in poverty, experiencing marginalization, and countries in the Global South are suffering the adverse effects of climate change. 

Here are a few of the many stories of climate breakdown:

Caption: Wildfires near Greece’s Alexandroupolis / Source: AP/Reuters

This year, oil firms have generated trillions of dollars in profits. They plan to use these profits to expand the production of environmentally disruptive fossil fuels despite warnings from the International Energy Agency (IEA). 

Meanwhile, 2023 is becoming the hottest year ever recorded. The victims of global warming and extreme weather conditions are tremendously increasing. From the dozens of poor Central American migrants who died from heatstroke trying to cross the desert into the wealthy US to the 18 North Africans who burned to death as they attempted to pass through Greek forests engulfed by flames. Additionally, thousands of Hebei villagers lost their homes when the Chinese government diverted flood waters from the affluent Beijing. 

The victims of these extreme weather conditions live in a total climate breakdown. It causes constant worry and distress among the vulnerable group. In short, all this oil exploitation has consequences, and the poorest majority are the ones who are paying. The issue has been one of the hottest debates regarding the credibility of conducting the COP28 summit in an oil state. 

Why is carbon inequality widening? 

The events cited above lead to several questions yet to be answered. What drives the lifestyle and investment options of the wealthy? How is carbon inequality connected with other social injustices? 

The Oxfam report shows that while the wealthiest 1% tend to live climate-insulated, air-conditioned lives, their emissions – 5.9bn tonnes of CO2 in 2019 – are responsible for immense suffering.

Using a “mortality cost” formula by the US Environmental Protection Agency, among others – of 226 excess deaths worldwide for every million tonnes of carbon, the report calculates that the emissions from the 1% alone would be enough to cause the heat-related deaths of 1.3 million people over the coming decades.

From 1990 to 2019, the accumulated emissions of 1% were equivalent to wiping out last year’s harvests of EU corn, US wheat, Bangladeshi rice, and Chinese soya beans.

The suffering falls disproportionately upon people living in poverty, marginalized ethnic communities, migrants, and women and girls who live and work outside or in homes vulnerable to extreme weather, according to the research. These groups are less likely to have savings, insurance, or social protection, which leaves them more economically and physically at risk from floods, drought, heatwaves, and forest fires. The UN says developing countries account for 91% of deaths related to extreme weather.

“The super-rich are plundering and polluting the planet to the point of destruction and it is those who can least afford it who are paying the highest price, The twin crises of climate and inequality are fuelling one another.” –   Chiara Liguori, Oxfam’s Senior Climate justice policy adviser.

The report finds that it would take about 1,500 years for someone in the bottom 99% to produce as much carbon in a year as the wealthiest billionaires.

What could be done to bridge the climate chasm? 

Oxfam is pushing for hefty wealth taxes on the super-rich and windfall taxes on fossil fuel companies to support the worst affected, reduce inequality, and fund a transition to renewable energy. It says a 60% tax on the incomes of the wealthiest 1% would raise $6.4tn a year and could cut emissions by 695m tonnes, which is more than the 2019 footprint of the UK.

Oxfam International’s interim executive director, Amitabh Behar, said that not taxing wealth allows the richest to rob from us, ruin our planet and renege on democracy. Taxing extreme wealth transforms our chances to tackle both inequality and the climate crisis. Similarly, these are trillions of dollars at stake to invest in dynamic 21st-century green governments, but also to re-inject into our democracies. 

Conclusion

The Oxfam study on the Great Carbon Divide isn’t just about statistics and case studies. It reflects the people’s impact on the planet. To address it, we must rethink our responsibilities, promote justice, and act urgently for a more sustainable future. It’s time for united efforts toward a balanced tomorrow.