The world’s richest 1% have used up their fair share of carbon emissions just 10 days into 2026, analysis has found.
Meanwhile, the richest 0.1% took just three days to exhaust their annual carbon budget, according to the research by Oxfam.
The charity said the worst effects of the emissions would be faced by those who had done the least to cause the climate crisis, including people in low-income countries on the frontlines of climate breakdown, Indigenous groups, women and girls.
Lower- and middle-income countries are most at risk from the detrimental effects of these emissions, with global economic damage potentially adding up to £44tn by 2050.
Not only are the super-rich responsible for most carbon emissions, but they also invest in the most polluting industries. A billionaire carries, on average, an investment portfolio in companies that will produce 1.9m tonnes of CO2 a year – roughly equivalent to the annual emissions of 400,000 petrol cars.
I expect even some bigger gaps, because top 1% is usually when you start having enough money to have good living standards efficiently. I.e. at this point you have the option of having efficient construction and waste less on cooling and heating, you can afford more sustainable clothing, both in terms of material and durability, etc. But unfortunately lots of people just decide to turbocharge destructive consumption instead.