Oxfam report links economic inequality to climate crisis & finds corporations and super rich are drivers of it
“Climate Equality: A planet for the 99%”, November 2023
Women, people of color, Indigenous Peoples and other marginalized groups are on the sharp end of climate breakdown. Young people and future generations will face the worst consequences of any failure to tackle climate change, while male, white billionaires are the big winners.
This report shows that these twin crises of climate and inequality are instead interlaced, fused together and driving one another.
this report argues for a radical new approach if we are to stand any chance at overcoming the catastrophe unfolding before us. It argues for a planet for the 99%, in which we address extreme inequality and climate breakdown together.
This means addressing not just the historic and current responsibilities of high-emitting nations and major corporations for their role in driving carbon emissions,but also – critically – the disproportionate role that the richest individuals play in the climate crisis through their emissions, investments and capture of politics.
The role of corporations, and in particular fossil fuel corporations, in driving the climate crisis is also well documented. One high-profile study found that 70% of industrial carbon emissions since 1998 come from only 100 oil, coal and gas producers.
In 2019, the super-rich 1% were responsible for as much carbon emissions as the poorest 66% of humanity (5 billion people).
The good news is that humanity can break free from the climate and inequality trap. An equal transformation, underpinned by economic and social policies that fight both inequality and the climate crisis, is within our grasp. But it will take vision, political will and, above all, a commitment to putting the needs of the many before the greed of the few.
Critically, this transformation must be just. It must be fair. It must be equal, not just economically but also by confronting the patriarchy, racism and inequalities that are being supercharged by our economic system