The investments of 125 billionaires produce 393 million metric tonnes of carbon dioxide emissions every year, according to a report by Oxfam.
That’s the equivalent CO2 output to the whole of France and makes the average billionaire’s annual emissions a million times higher than a person in the poorest 90% of the world’s population, the global poverty charity says.
The billionaires included in the study have a collective $2.4 trillion stake in 183 companies, which averages out at 3 million metric tonnes of carbon dioxide emitted per billionaire, per year. People outside the world’s wealthiest 10% emit an average of 2.76 metric tonnes of carbon dioxide annually.
The report by Oxfam analyzed how 125 of the world’s richest people had invested their money and looked at the carbon emissions of those investments.