PARIS: As rich people have a greater carbon footprint than the poor they should pay more tax to compensate, says a study by the World Inequality Lab published ahead of the upcoming COP26 climate conference in Glasgow.
With carbon emission levels returning to pre-pandemic levels, most recent data shows the richest 1 per cent of the globe's population emitted 110 tonnes of CO2 per head in 2019, study head, Paris School of Economics professor and WIL co-director Lucas Chancel said Wednesday.Moreover, whereas the richest 10 percent were responsible for half of all emissions, the poorest 50 per cent accounted for just a 12 per cent share - at a per capita average of 1.6 tonnes of carbon.
The study found that the burden of climate policies in an attempt to limit climate change has been"disproportionately borne by low-income consumers over the past decades, in particular via carbon and energy taxes. "More emphasis should be placed on policy instruments targeting wealthier groups, via taxes on the ownership of polluting assets," such as fossil fuel investments.
Not only do rich people tend to pollute more but developed countries similarly have a much higher carbon footprint when their import and use of products made abroad is taken into account, the study shows.
Is that a pic of carbon free cooling towers?
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