Richest 0.1% (8M) produce more carbon pollution than 3.5B

The world's richest 0.1 percent, about 8 million people, produce more carbon pollution than the poorest 3.5 billion combined, according to a new Oxfam analysis published ahead of COP31. A person in this group has contributed nearly 400 times more to today's extreme heatwaves than someone in the poorest half of humanity. The richest 1 percent cause 20 percent of global warming since 1990 and will cause nearly $53 trillion in damage by 2050. Oxfam's new Destroy & Rebuild Index finds 217 corporations profit from both climate-destroying industries and disaster recovery, with BlackRock and Vanguard invested in 92 percent of them, holding over $1 trillion combined.

Source: https://www.oxfam.org/en/press-releases/ultra-rich-01-produce-more-carbon-pollution-nearly-half-humanity-while-cashing. 8 Sync News only summarizes and links out; content copyright belongs to the authors and original sources.