Within the first 10 days of 2025, the wealthiest one percent of the world have emitted as much carbon pollution as the poorest half in nearly three years, Oxfam revealed on Friday (10 January).
Dubbed “Pollucrat Day” by the NGO, Friday is the date when the richest one percent (some 77 million individuals) have consumed their portion of the annual global carbon quota (2.1 tonnes) — the quantity of CO2 that can be added to the atmosphere without causing global warming exceeding 1.5°C, according to UN estimates.
Oxfam estimated that the top one percent produce annually twice as much pollution as two-thirds of humanity.
In a report published last October, the NGO also revealed that Europe’s super-rich emit in one week, simply by using their private jets and yachts, what the poorest one percent emit in a lifetime.
To meet the 1.5°C maximum warming target set at the Paris Agreement, the wealthiest one percent should reduce their emissions by 97 percent by 2030, Oxfam said.
“The future of our planet is hanging by a thread. The margin for action is razor-thin, yet the super-rich continue to squander humanity’s chances with their lavish lifestyles, polluting stock portfolios, and pernicious political influence,” said Nafkote Dabi, an Oxfam campaigner.
The non-profit organisation also calculated in 2023 that the wealthiest 10 percent of Europeans were accountable for the same amount of carbon pollution as half of the continent’s poorest citizens.
“Europe's elite have a massive carbon footprint. Their outsized emissions are pressing fast-forward on the climate crisis,” Chiara Putaturo, an Oxfam expert, told EUobserver.
“European governments must tax the wealthiest to curb their emissions and fund climate action,” she added.
This article has been updated to clarify that the October report refers to Europe’s super-rich