X The emissions of the super-rich 1% in 2019 are enough to cause 1.3 million deaths due to heat.2 X A tax of 60% on the incomes of the super-rich 1% of earners globally would cut the carbon equivalent of more than the total emissions of the UK and raise US$6.4 trillion to fund renewable energy and a transition away from fossil fuels. [...] By contrast, the emissions of the poorest half of the global population are set to remain one-fifth of the 1.5°C compatible level (see figure ES.3).16 Invested in pollution Despite being massive, the personal consumption of the super-rich is dwarfed by emissions resulting from their investments in companies.17 Investments of the top 1% are estimated to account for between 50% and 70% of their emis. [...] The idea that the wellbeing of all and the survival of our planet can only be created as a by-product of the pursuit of financial profit and ever-greater wealth for the few must be fundamentally rejected. [...] This chapter looks at two types of inequality of emissions – the inequality of emissions between rich nations and the rest of the world, and the inequality of emissions between rich people and the rest of humanity – and reveals deep inequalities. [...] X A tax of 60% on the incomes of the super-rich 1% of earners globally would cut the carbon equivalent of more than the total emissions of the UK, and raise US$6.4 trillion to fund renewable energy and a transition away from fossil fuels.
- Pages
- 136
- Published in
- Australia
