carbon emissions

Global greenhouse gas (GHG) emissions are set to rise by 10.6% by 2030 instead of falling by the 45% needed to limit the increase in global temperature to 1.5 °C. The G20 countries are the worst and most-responsible offenders, says Oxfam.

The carbon footprint of a super-rich European, accumulated from nearly a week of using super yachts and private jets, matches the lifetime carbon footprint of someone in the world’s poorest 1 percent, a new Oxfam report reveals today. The first-of-its-kind study, “Carbon Inequality Kills”, tracks the emissions from private jets, yachts and polluting investments and comes ahead of COP29 in Baku, Azerbaijan, amidst growing fears that climate breakdown is accelerating, driven largely by the emissions of the richest people.

Fifty of the world’s richest billionaires on average produce more carbon through their investments, private jets and yachts.

The richest 1 percent of the world’s population produced as much carbon pollution in 2019 than the five billion people who made up the poorest two-thirds of humanity, reveals a new Oxfam report today. It comes ahead of the UN climate summit in Dubai, amid growing fears that the 1.5°C target for curtailing rising temperatures appears increasingly unachievable.

In response to the G20 communique, Oxfam says: ‘The G20 has failed to meet the huge challenges our world faces. They continue to stumble away from taking the bold actions necessary to tackle poverty, inequality, and climate change after an uninspiring and underwhelming Summit in India this weekend.” 

Responding to the publication today of the IPCC’s Synthesis Report (SYR), Oxfam’s Climate Policy Lead Nafkote Dabi said: “This is, literally, the last chapter. The science shows that limiting global heating to 1.5°C is still possible —but only just. Unless we pull the emergency brake on deadly carbon pollution, ‘unheard-of’ heatwaves, storms, droughts and floods will continue to become more frequent and hit more places and people."
 

The investments of just 125 billionaires emit 393 million tonnes of CO2e each year – the equivalent of France – at an individual annual average that is a million times higher than someone in the bottom 90 percent of humanity.

The G7 must pursue windfall taxes on excess corporate profits including from those making huge returns from surging food and energy prices. The revenues can be used to fund an end to global hunger and to tackle climate change, says Oxfam.

The amount of money needed for UN humanitarian appeals involving extreme weather events like floods or drought is now eight times higher than 20 years ago — and donors are failing to keep up, reveals a new Oxfam brief today. For every $2 needed for UN weather-related appeals, donor countries are only providing $1.

Responding to the publication today of the IPCC’s Working Group III report on climate change mitigation, Oxfam’s Climate Policy Lead Nafkote Dabi said: “This IPCC report pulls no punches. It’s not about taking our foot off the accelerator anymore —it’s about slamming on the brakes. A warming planet is humanity’s biggest emergency."