‘Tiny elite has free pass to pollute’: Richest one per cent must cut emissions by 97 per cent, says study

The carbon footprints of the richest one per cent on Earth in 2030 will be 30 times greater than the level compatible with the 1.5C Paris Agreement goal, researchers predict.

The world’s wealthiest would need to cut their emissions by around 97 per cent compared with when the Paris deal was signed in 2015, the study commissioned by Oxfam concludes.

The charity says a “tiny elite appear to have a free pass to pollute”.

And the report author called for governments to crack down on superyachts, private jets and space travel, and to curb stockholdings in fossil fuels.

The briefing, based on research by the Institute for European Environmental Policy and the Stockholm Environment Institute, estimates how governments’ climate pledges will affect the carbon footprints of richer and poorer people globally.

It finds that by 2030 the poorest half of the global population will still emit far below the 1.5C-aligned level in 2030, and the richest one per cent of people – about 80 million - are set to exceed by 30 times.

The wealthiest 10 per cent are predicted to exceed it by nine times.

By contrast, the middle 40 per cent of people – about 3.4 billion - are on course for emissions cuts of 9 per cent.

On average, every person on Earth would need to halve their carbon footprint, according to the study.

The emissions from a single billionaire space flight exceed the lifetime emissions of anyone in poorest billion people on Earth, the research found.

“A tiny elite appear to have a free pass to pollute.

“Their over-sized emissions are fuelling extreme weather around the world and jeopardising the international goal of limiting global heating.

“The emissions of the wealthiest 10 per cent alone could send us beyond the agreed limit in the next nine years, which would have catastrophic results for some of the most vulnerable people on Earth who are already facing deadly storms, hunger and destitution.”

The UN has warned that current governments’ pledges to cut emissions fall far short of what is needed to keep to the 2015 1.5C warming target.

By 2030, Chinese citizens will be responsible for almost a quarter (23 per cent) of the emissions of the richest 1 per cent, US citizens for a fifth (19 per cent) and Indian citizens for a tenth (11 per cent), the study warns.

Tim Gore, author of the briefing, said: “The global emissions gap to keep the 1.5C Paris goal alive is not the result of the consumption of most of the world’s people - it reflects instead the excessive emissions of just the richest citizens on the planet.

“To close the emissions gap by 2030, it is necessary for governments to target measures at their richest, highest emitters.”

He called for measures to constrain luxury carbon consumption such as mega-yachts, private jets and space travel, and to curb climate-intensive investments in fossil fuel industries.