A new report reveals that the wealthiest 1% globally produce as much carbon pollution as two-thirds of the world's poorest. The study, by The Guardian, Oxfam, and the Stockholm Environment Institute, emphasizes the connection between climate change and extreme inequality.

It found that the top 1% emitted 16% of the world's carbon in 2019, equivalent to emissions from the poorest 66%. The richest 10% contributed half of that year's emissions.

Oxfam's policy advisor, Chiara Liguori, described this disparity as fundamentally unfair. The carbon emissions from the wealthiest in 2019, approximately 5.9 billion tons, could lead to 1.3 million deaths due to temperature changes.

The report highlighted the carbon contributions of 12 billionaires, including Carlos Slim Helu and Bill Gates, who emitted over 17 million tons through their lifestyles and investments, surpassing output from 4.5 coal power plants annually.

Ecology professor William Ripple affirmed the report's alignment with recent scientific findings, emphasizing the need to address carbon inequality and climate justice.

The report advocates transitioning to renewable energy and proposes a 60% tax on the wealthiest 1% to reduce global emissions by 700 million tons.

Simultaneously, the United Nations warned of a significant shortfall in climate adaptation funding, estimating an annual gap of $194 to $366 billion. Nations face increasing risks from climate change but lack sufficient investment for response.