By today, the 10th of January, the richest 1 percent of the global population have already burned through their share of the annual global carbon budget, according to new Oxfam analysis.
It takes the super-rich just 10 days to use up their share of carbon for the whole of 2025. In stark contrast, the poorest half of the global population would take more than three years (1,022 days) to use the same amount. The carbon budget tracks how much CO₂ can be added to the atmosphere without exceeding 1.5°C of warming, which would have catastrophic results.
For Ireland, the disparity is equally shocking. Oxfam’s research reveals that an Irish billionaire emits as much greenhouse gas in a single day as the average Irish person does in an entire year.
“This stark inequality in emissions shows how the actions of a privileged few are accelerating climate breakdown. Vulnerable communities in the Global South with the lowest emissions are paying the price.
— Jim Clarken, Oxfam Ireland CEO
In Ireland, we are already seeing the effects of climate change, such as increasingly severe storms and devastating flood. Yet, the wealthiest individuals continue to pollute with impunity.
“The super-rich are not just burning through their carbon budget — they are robbing future generations of their right to a liveable planet. This is a theft of our collective future, and it must stop.
We are asking the incoming Irish government to prioritise climate action and global climate justice in the Programme for Government 2025-30. We need to accelerate our own reduction of carbon emissions at the same time as we increase our contributions to climate finance for those countries most impacted.”
— Jim Clarken, Oxfam Ireland CEO
Oxfam’s research shows that the richest 1 percent are responsible for over twice as much carbon pollution as the poorest half of humanity combined. Their emissions have caused trillions of dollars in economic damage and millions of excess deaths since 1990.
By 2030, the wealthiest individuals are expected to cut their emissions by only 5 percent — far short of the 97 percent reduction needed to align with the 1.5°C target.
“Government leaders need to tax luxury emissions – including superyachts and private jets - introduce significant wealth taxes to fund climate action and make rich polluters pay.
Reparations are owed to Global South countries bearing the brunt of climate breakdown. This is not just about reducing carbon footprints — it’s about justice, accountability, and securing a fairer future for all. Before time runs out, emergency action must be taken.”
— Jim Clarken, Oxfam Ireland CEO
ENDS
For further information, please contact:
Clare Cronin, Head of Communications – Oxfam Ireland clare.cronin@oxfam.org +353 (0) 87 195 2551
According to the UN, the global population is projected to reach 8.5 billion in 2030. Dividing the 1.5°C compatible 2030 emissions level (17.8 GtCO2) equally by 8.5 billion gives an estimate of an annual carbon budget of 2.1t CO2 per person.
Ton CO2 per capita per year
Richest 1%: 76
Poorest 50%: 0.7
Ton CO2 per capita per day
Richest 1%: 0.209
Poorest 50%: 0.002
Annual carbon budget, ton CO2 per capita
Richest 1%: 2.1
Poorest 50%: 2.1
Days to use up share of annual carbon budget
Richest 1%: 10
Poorest 50%: 1022
Oxfam’s research shows that the richest 1 percent —comprising 77 million individuals, including billionaires, millionaires, and those earning over $140,000 per year in PPP terms— were responsible for 15.9 percent of global CO2 emissions in 2019. The bottom 50 percent (3.9 billion people with an average annual income of $2,000 in PPP terms) accounted for 7.7 percent of all CO2 emissions during the same year. “Climate Equality: A Planet for the 99%” draws on research by the Stockholm Environment Institute (SEI) and assesses the consumption emissions of different income groups in 2019, the most recent year for which data are available.
Between 2015 and 2030, the richest 1 percent are set to reduce their per capita consumption emissions by just 5 percent, compared with the 97 percent cuts needed to align with the global per capita level compatible with the 1.5°C goal of the Paris Agreement.
The first-of-its-kind study, Oxfam’s “Carbon Inequality Kills,” tracks the emissions from private jets, yachts and polluting investments and details how the super-rich are fueling inequality, hunger and death across the world.
“This stark inequality in emissions shows how the actions of a privileged few are accelerating climate breakdown. Vulnerable communities in the Global South with the lowest emissions are paying the price.
