Oxfam report: Ultra-wealthy profit from climate crisis they fuel

Oxfam climate inequality carbon emissions private jets wealth tax

A new Oxfam study titled ‘Disaster Divide’ reveals that the world’s richest 0.1%, approximately 8 million people, generate more carbon emissions than the poorest 3.5 billion people combined. The report highlights a ‘double dividend’ for the ultra-wealthy: they drive climate change through high-emission lifestyles and carbon-intensive investments, while simultaneously profiting from the resulting disaster recovery and reconstruction markets.

Key findings include that private jets caused 16 million tonnes of CO2 emissions globally in 2025. In just two seconds, these jets emit more CO2 than a person in the poorest half of the world produces in an entire year. Furthermore, an analysis of 1,000 billionaires showed that 71% of their investments flow into climate-damaging sectors such as oil, gas, and chemicals.

The report warns that emissions from the richest 1% could lead to 1.9 million additional heat-related deaths and cause nearly $53 trillion in damages by 2050. Oxfam is calling for increased taxation on high wealth, private jets, and fossil fuel company excess profits to address these systemic inequalities ahead of the COP31 climate conference.

Entities

Amitabh Behar · COP31 · Forbes · Germany · Jacqueline Persson · Manuel Schmitt · Oxfam · Stockholm Environment Institute · United Nations

Claims

What the coverage asserts, and how many sources carry each claim.

[● 3 SOURCES] 71 percent of investments from 1,000 studied billionaires went into climate-damaging sectors like oil, gas, or chemicals. www.vol.at · www.t-online.de · www.tt.com
[○ 1 SOURCE] German billionaires in the study caused an average of 705,000 tonnes of CO2 equivalent through investments. www.t-online.de
[○ 1 SOURCE] More than 55,000 private jets departed from German airports, causing over 182,000 tonnes of CO2. www.t-online.de
[● 4 SOURCES] Private jets caused 16 million tonnes of CO2 emissions worldwide in 2025. www.vol.at · www.t-online.de · www.tt.com · www.upday.com
[● 2 SOURCES] Oxfam demands increased taxation on high wealth, private jets, and fossil fuel company excess profits. www.vol.at · www.tt.com
[● 5 SOURCES] Private jets emitted more CO2 in two seconds than the poorest half of the world's population emits in a year. www.vol.at · www.t-online.de · www.tt.com · www.theguardian.com · www.upday.com
[● 4 SOURCES] Oxfam released a study titled ‘Disaster Divide’ regarding the impact of the wealthy on the climate. www.vol.at · www.t-online.de · www.tt.com · www.upday.com
[● 2 SOURCES] Emissions from the richest 1% could cause nearly $53 trillion in damages by 2050. ruse.news · novini247.com
[● 3 SOURCES] The richest 0.1% are heavily invested in disaster preparedness and reconstruction. www.theguardian.com · ruse.news · www.rd.nl
[● 3 SOURCES] The disaster recovery and reconstruction market is projected to grow from $70 billion to $92 billion annually by 2029. ruse.news · www.theguardian.com · www.rd.nl
[● 2 SOURCES] A private jet releases more CO2 in two seconds than the average person in the poorest half of the world emits in a year. novini247.com · www.theguardian.com
[● 5 SOURCES] The richest 0.1% of the population generates more carbon emissions than the poorest 3.5 billion people combined. ruse.news · wdctv.news · novini247.com · www.theguardian.com · www.rd.nl