Because richer individuals have a larger carbon footprint than rich ones, they should pay more in taxes to offset this, according to a study by the World Inequality Lab (WIL), which was published ahead of the forthcoming COP26 climate conference in Glasgow.
With carbon dioxide emissions falling back to pre-pandemic levels, the latest global data show that in 2019, the richest per cent of the world’s population emitted 110 metric tons of carbon dioxide per capita, senior researcher, professor at the Paris School of Economics and WIL co-director Lucas Chancel said on Wednesday.
Its share in the total global population was enormous: 17%.
Moreover, the wealthiest ten% accounted for half of all emissions, while the poorest 50% accounted for only 12% – with a per capita average of 1.6 tons of carbon.
Over the last few decades, it concluded that the burden of climate policy in trying “disproportionately borne by low-income consumers over the past decades, in particular via carbon and energy taxes.
“More emphasis should be placed on policy instruments targeting wealthier groups, via taxes on the ownership of polluting assets,” including investment in fossil fuels, should bring to the fore.
The study shows not only that wealthy people tend to pollute more, but has also revealed that advanced nations show a much higher carbon footprint when factoring in their import and use of products from abroad.
