A billionaire emits a million times more greenhouse gases than an average person in a year. The world’s 125 richest billionaires cumulatively yield an annual average of three million tonnes of carbon dioxide emissions a year, which is equal to the annual carbon emissions of France, a nation of 67 million people. These findings, published in a new report by Oxfam, highlight the contribution of the world’s richest in generating greenhouse gases. 

The report showed that the world’s wealthiest individuals fund 393 million tonnes of CO2e (carbon dioxide equivalent) per year. Their investments in polluting industries such as fossil fuels and cement are also double the average for the S&P Group of 500 companies. 

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Apart from their investments in polluting industries, their luxurious lifestyles – due to their frequent use of private jets and yachts – add to their carbon footprint, the total amount of greehouse gases emitted by an individual. “These few billionaires together have ‘investment emissions’ that equal the carbon footprints of entire countries like France, Egypt or Argentina,” said Nafkote Dabi, Climate Change Lead at Oxfam.

“Emissions from billionaire lifestyles – due to their frequent use of private jets and yachts – are thousands of times the average person, which is already completely unacceptable,” said Dabi. “But if we look at emissions from their investments, then their carbon…