We all know about damage being done to environment by industries, households, belching cows and release of methane from permafrost. new report highlights source of CO2 emissions that few of us are aware of - billionaires. The British charity Oxfam has reported that lavish lifestyles of the world's wealthiest create significantly more CO2 than average person. It conducted analysis of the investments and lifestyles of 125 of the world's richest billionaires. The conclusion was that average billionaire is responsible for 3 million metric tons of carbon dioxide per year. This is million times more than the average person creates. Collectively, billionaires create as much CO2 as France.
The lifestyles of billionaires are damaging to environment. Luxury yachts, extravagant mansions and private jets mean super-rich have huge carbon footprint. This is made bigger by investments they make. Speaking at the COP 27 Climate Change Conference in Egypt, Oxfam spokesperson provided details about CO2 and the super-rich. She said: "The major and growing responsibility of wealthy people for overall emissions is rarely discussed or considered in climate policy making. This has to change." She added: "These billionaire investors at top of corporate pyramid have huge responsibility for driving climate breakdown. They have escaped accountability for too long."
