A huge new report shows the wealthy are a reason climate crisis keeps getting worse and the stock market keeps getting more powerful. Fixing each problem means fixing how the wealthy live.
Wealth inequality appears across the global economy — and the climate crisis and stock market play significant roles.on Tuesday, which examines global wealth distribution across the world. It found that wealth is directly correlated with the climate crisis, and the people who tend to own the most financial assets are also the people contributing the most to carbon emissions across the globe.
And those people are the ones that are also contributing the most to carbon emissions. According to the report, the top 10% of earners account for emit 47.6% of the total carbon emissions, while the global bottom 50% emit 12% of the total. A reason for this disparity can be chalked up to the carbon tax: while in some countries, the tax has been implemented successfully, other countries, like France, do not consider socio-economic context.
In other words, the people who own the most assets should be paying more for their share in polluting the climate.
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