ESG & Investing
How the Rich Are Fueling Emissions Even as They Cut Them At Home
Most of their carbon footprint comes from the pollution generated by the assets they own.
The researchers found that of the asset-related emissions from the world’s wealthiest people, most come from equities they own, including oil company stocks.
Photographer: Michael Nagle/BloombergThe world’s wealthiest individuals fuel climate change through more than just buying goods and using energy — they also invest in polluting assets, according to a new report.
The wealthiest 1% of the global population accounts for 15% of all emissions attributed to consumers, but if their carbon footprint is measured by the assets they own, their share jumps up to about 40%, the study, conducted by researchers at the World Inequality Lab, found.