Super-rich’s assets cause outsized amount of climate harm, study says

The Guardian

Super-rich’s assets cause outsized amount of climate harm, study says

Greenpeace calculates that wealthiest contribute nearly $1tn of damage a year with ownership-based emissions Ultra-wealthy people zooming across the world on their private jets , lounging on yachts and conspicuous by their Instagrammable consumption are among the most easily identified individual culprits when it comes to the climate crisis – but new research argues that it is not just their heady lifestyles to blame , but also their bank accounts. Through their ownership of companies and private financial and physical assets, from oil producers to property developments, the super-rich are responsible for an outsized slice of the greenhouse gases that are overheating the planet. The top 1% of people by wealth, through their shareholdings and investments, control about a quarter of global annual emissions in total. Continue reading...

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