Super-rich’s assets cause outsized amount of climate harm, study says

The wealthiest 1% of the global population are responsible for approximately 25% of total annual emissions through their ownership of companies and financial assets, according to new research cited by Greenpeace. This "ownership-based emissions" contribute significantly to global warming, with the super-rich's investments in sectors like oil production and property development being key drivers. The study highlights that conspicuous consumption, such as private jet travel and extensive yacht ownership, is only one facet of the climate impact, with their financial portfolios playing a more substantial, albeit less visible, role. Greenpeace calculates that these emissions from the wealthiest individuals cause nearly $1 trillion in climate damage annually. The research underscores a disproportionate contribution to the climate crisis stemming from the financial holdings of the ultra-wealthy, extending beyond their direct consumption patterns.