Billionaires emit more carbon pollution in 90 minutes than the average person does in a lifetime | Oxfam International

First -of-its-kind study, “ Carbon Inequality Kills ,” tracks the emissions from private jets, yachts and polluting investments.

Report comes ahead of COP29 in Baku , Azerbaijan , amid growing fears that climate breakdown is accelerating, driven largely by the emissions of the richest people.

Oxfam warns that the cost of global warming will continue to rise unless the richest drastically reduce their emissions.

Governments must introduce permanent income and wealth taxes on the top 1 percent , ban or punitively tax carbon-intensive luxury consumptions.

A wealth tax on the world’s millionaires and billionaires could raise at least $1.7 trillion annually .

Oxfam calculates that, if invested in renewable energy and energy efficiency measures by 2030 , billionaires’ wealth could cover the entire funding gap between what governments have pledged and what is needed.

Climate activists are demanding the Global North provide at least $5 trillion a year in public finance to the Global South "as a down payment towards their climate debt" to the countries, people and communities of the Global South who are the least responsible for climate breakdown but are the most affected. Annie Thériault in Montreal , Canada | [email protected] | +51 936 307 990 For updates, please follow @NewsFromOxfam.