The Richest 1 Percent Burned Their Entire Share of Carbon for the Year in Just 10 Days

"In less time than it takes to get bored of your new year's resolution, the planet's wealthiest people had already blown through their yearly ration of carbon emissions. We're not speaking figuratively, either. A new analysis by the Oxfam Foundation found that the world's richest 1 percent exceeded their fair share of annual carbon emissions just 10 days into the year."

"The global "carbon budget" is based off the amount of carbon dioxide that humankind can collectivelyspew while keeping us within 1.5 degrees Celsius of pre-industrial temperatures. According to Oxfam, the CO2 emissions of the richest 1 percent in just one year will result in an estimated 1.3 million heat-related deaths by the end of the 21st century. "To stay within the 1.5 degrees limit, the richest 1 percent would have to slash their emissions by 97 percent by 2030," the study's press release reads."

The richest 1 percent used their fair share of annual carbon emissions within ten days. The top 0.1 percent used their allotment by January 3. The richest 0.1 percent produce more CO2 in a single day than the poorest 50 percent produce in a year. If everyone emitted like the richest 0.1 percent, the global carbon budget would be depleted in less than three weeks. To stay within 1.5 degrees Celsius, the richest 1 percent must reduce emissions by 97 percent by 2030. Wealth concentration includes ownership of mega-corporations and real estate and drives disproportionate emissions and profit.

Read at Futurism