KATHMANDU, OCTOBER 30
Ahead of COP30 in Belem, Brazil, Oxfam released a report highlighting that the world's richest 0.1% emit more carbon per day than the poorest half of humanity produce in a year.
Since 1990, the richest 0.1% have increased their share of total emissions by 32%, while the poorest 50% have reduced theirs by 3%. The report also warns that billionaire investments in high-emission sectors significantly exacerbate climate risks.
Amitabh Behar, Executive Director of Oxfam International, said, "The climate crisis is an inequality crisis. The richest individuals profit from climate destruction while the global majority bears the consequences. Immediate measures are needed to cut extreme emissions and curb their political influence."
Oxfam urges governments to tax extreme wealth, restrict fossil fuel lobbying, and implement equitable climate policies to address this disparity.
