The rich fuel climate crisis, poor bear the brunt
The wealthy drive the climate crisis. According to data, just 10% of humanity is responsible for two-thirds of global warming. Climate change leads to extreme weather conditions such as floods, fires, and droughts. A small fraction of society consumes the world's resources, and the consequences are borne by residents of the poorest parts of the world.
As reported by the Science Alert portal, the latest research indicates that the richest 10% of the world's population is responsible for two-thirds of global warming since 1990. Consumerism and the use of global resources drive the climate disaster, most acutely felt by the poorest. Climate change contributes to the occurrence of fires, floods, and droughts, which affect the food market, escalate conflicts, and contribute to epidemic outbreaks. As a result, global inequality not only deepens but becomes one of the main dimensions of the climate crisis.
The wealthy consume, and the rest bear the consequences
Sarah Schoengart from ETH Zurich, the lead author of the study, emphasizes that the carbon footprint of the wealthiest is directly linked to real climate impacts. Compared to the world average, the richest 1% contributed 26 times more to heatwaves and 17 times more to droughts in the Amazon. The wealthy consume massively and make Earth a less friendly place for its inhabitants.
We need systemic changes
The greatest damage is not caused by personal consumption but by emissions related to investments and overproduction. Action from individuals is important but gets lost without systemic changes. Carl-Friedrich Schleussner from the International Institute for Applied Systems Analysis suggests that progressive taxation of wealth and carbon investments could help limit future climate damage.
Researchers claim that progressive taxation of polluting industries could significantly slow climate change. Such taxes would create a strong economic incentive to reduce greenhouse gas emissions. In this system, the more a company emits, the higher cost it incurs. This would encourage enterprises to invest in cleaner technologies, improve energy efficiency, and adopt more sustainable business models.
Studies show that taxing emissions related to assets is better for society than carbon taxes, which burden lower-income individuals. Despite this, efforts to tax corporations are continually blocked, leaving all initiatives at a standstill.
Global corporate tax
In 2021, nearly 140 countries agreed to work on a global corporate tax, but the initiative did not result in any actions. According to Forbes, almost one-third of billionaires worldwide are from the U.S., more than from China, India, and Germany combined. Funding support for the poorest countries faces widespread opposition from world economies, intensifying the debate around the consequences of the impending climate collapse.
