Flying around the world in private airplanes, relaxing on yachts, and showing off spending habits on social media... People often believe that the extravagant lifestyles of super-rich people are one of the "culprits" contributing to the climate crisis. However, according to a new study reported by the British newspaper The Guardian on the 10th local time, the assets of super-rich people actually cause disproportionate damage to the climate.
Greenpeace's research found that a small group of people who own the ownership of corporate, private financial, and physical assets have a disproportionate responsibility for greenhouse gas emissions that lead to global warming. The world's richest 1% population controls approximately one-fourth of the world's annual emissions through their holdings and investments.
According to reports, Greenpeace has calculated the “climate debt” of these high-net-worth individuals by allocating the assets that the wealthy own and the damage they cause to the climate, based on the proportion of their wealth. Using this method, the world’s richest people are responsible for causing nearly $1 trillion in damage to the climate each year.
Greenpeace activist Clara Thompson said that it is very important to consider emissions from ownership perspectives. Although these emissions are not as conspicuous as those related to consumption, they are more difficult to address.
"This isn't just about private jets and luxurious lifestyles. When we talk about the pollution of super-wealthy individuals, ownership even matters more than consumption. A significant portion of emissions is related to carbon-intensive assets and investment ownership," Clara Thompson said, "For years, climate policy has focused on consumers. But our findings indicate that we should pay more attention to what people own and invest in."
Greenpeace estimates that the world's richest 1% of the population is responsible for approximately 40% of all emissions related to ownership—that is, emissions generated by companies and related to private financial and physical assets. These emissions alone account for 60% of the total global carbon emissions. In contrast, the world’s poorest half of the population accounts for only 3% of these emissions related to ownership.
