Greenpeace experts have found that the wealthiest 1% of the world's population is responsible for about 40% of annual greenhouse gas emissions. This is according to a study published in The Guardian.
The research shows that property emissions from the rich cause trillions of dollars in climate damage each year. Those with assets over $2 million create 40% of emissions, while those with over $7 million account for 17%.
In contrast, the poorest half of the world's population contributes only 3% of greenhouse gas emissions. Greenpeace emphasizes that climate policy has long focused on consumers, but now attention should shift to the investments of the wealthy. Last year, banks and investors poured $900 billion into fossil fuels.
