Oxfam's research reveals that the world's richest 0.1 percent (8 million people) produce more carbon pollution than the poorest 3.5 billion people combined. A person in this elite group has contributed nearly 400 times more to extreme heatwaves than someone in the poorest half of humanity. The richest 1 percent are responsible for 20 percent of global warming since 1990 – 100 times more per person than the poorest half.
Just one year of emissions by the richest 1 percent will cause 1.9 million excess heat-related deaths, with 78 percent occurring in low- and lower-middle-income countries. The emissions of the richest 1 percent will cause nearly $53 trillion in damage by 2050. Meanwhile, the super-rich shield themselves with private bunkers, firefighting crews, and insurance while profiting from disaster preparedness and recovery markets projected to grow from $70 billion to $92 billion annually by 2029.
Source: Hacker News · Summarized by HeadlinesBriefing