The wealthiest Americans are consuming the planet’s carbon budget at a staggering pace, with the top 0.1 per cent responsible for emissions up to 4,000 times greater than those of the world’s poorest people, according to a new report by Oxfam.
Extreme inequality in emissions
The study, released on Wednesday, paints a stark picture of climate inequality in the United States. Drawing on fresh data from the Stockholm Environment Institute, Oxfam found that the richest Americans are collectively exhausting the remaining “safe” climate space — the level of carbon emissions that can be released before breaching the 1.5°C global warming limit. The report estimates that the top 0.1 per cent alone generate more carbon pollution than 160 million of the poorest Americans combined.
According to Oxfam, these ultra-wealthy individuals — numbering roughly 130,000 — are not only high consumers but also major investors in fossil-fuel-intensive sectors such as aviation, shipping, and luxury real estate. The analysis argues that their disproportionate carbon footprint “has effectively privatised the planet’s remaining climate capacity.”
Private jets, mega-yachts and carbon excess
The report highlights private aviation as one of the largest contributors. A single trans-Atlantic flight by private jet emits more carbon than the average African household produces in a year. Similarly, super-yachts, high-end cars, and multiple homes across continents have created what researchers describe as “a lifestyle of climate exceptionalism,” disconnected from the environmental consequences borne by the global poor.
Call for climate wealth tax
Oxfam has urged policymakers to impose a “climate wealth tax” aimed at reducing luxury emissions and financing adaptation programmes in vulnerable regions. It also recommends mandatory disclosure of high-net-worth carbon footprints and stricter regulation of carbon-intensive assets. “The wealthiest are quite literally consuming the future,” said Nafkote Dabi, Oxfam’s climate policy lead. “Without reining in excess consumption, there is no path to climate justice.”
A moral and political test
The report arrives just ahead of the UN’s COP30 climate summit, where discussions around equitable emissions and wealth redistribution are expected to dominate. Analysts say the findings will add pressure on U.S. negotiators to confront the moral dimension of climate responsibility — one that ties personal wealth to planetary survival.
Newshub Editorial in North America – 29 October 2025
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