The world’s richest 1% of people are responsible for around the same percentage of global carbon emissions as the 5 billion people who represent the 66% poorest, according to a report published Monday by Oxfam.
Richest 1% produce same carbon emissions as poorest 66%: report (cnbc.com)
They included not just their personal emissions but also the emissions of companies they have invested in. As in companies that are building products and services for other people. But rather than tally those emissions among the people who consume the products and services, they assigned those to the investors and owners of the companies. Thus, the lower 66% have almost no emissions! This is brilliant!
It also includes between 50% and 70% of emissions by the 1% coming through investments in companies, measured by taking firms’ reported emissions and distributing that proportionate to shareholder ownership of those firms by the 1%.
Does this qualify as a middle school science fair project?
Oxfam kinda sorta acknowledges that their desire for global economic equality isn’t too far from Marxism and they wrote an entire paper to explain why they kinda sorta don’t mean to be Marxists but we kinda sorta are Marxists.
UPDATE: An actual climate professor does not understand the problem with Oxfam’s study: Reto Knutti on X: “Climate change is fundamentally unfair: The super-rich 1% were responsible the same amount of CO2 emissions (16%) as the poorest two thirds of humanity, according to the new Oxfam report. https://t.co/Mn7qI0CDDd https://t.co/9XqRjhBLyi” / X (twitter.com)
He fails to see what Oxfam did – and now a garbage study is turned into “scientific fact”. This is Science.
