Oxfam report: Richest 1% caused 20% of warming since 1990 — TIME

The richest 1% of the world’s population is responsible for 20% of global warming since 1990, according to a new Oxfam report. TIME reports on its findings. According to the organization’s estimates, this group’s emissions significantly exceed the combined emissions of the poorest 3.5 billion people.

Emissions gap

For its calculations, Oxfam used climate-impact attribution models and consumption-based emissions data developed by the Stockholm Environment Institute. The report states that a member of the richest 0.1% in the United States emits more carbon dioxide in 118.3 days than a person from the poorest half of the country’s population does in 30 years.

According to Oxfam, the emissions of one member of the richest 1% contributed 34 times more to extreme heat events than the emissions of an average person. The authors also estimated that this group’s annual emissions could lead to approximately 1.9 million additional heat-related deaths.

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Private jets and tax proposal

One of the largest sources of emissions among ultra-wealthy people is private jets. In 2025, they emitted 16 million metric tons of CO2, comparable to the annual energy consumption of more than 2 million households. Last year, private jets spent more than 6.5 million hours in the air, and 68% of all their flights took place in the United States.

Oxfam proposes introducing taxes on the emissions of ultra-wealthy people, including through taxes on luxury goods and high-emission activities such as private flights. Other options mentioned include windfall taxes on fossil fuel companies. According to the authors, the funds raised could be directed toward climate-change adaptation and climate financing for countries of the Global South.