Carbon Inequality Kills: the Oxfam Report, Super-Rich, and the Climate Crisis

This is an episode that is probably going to make a lot of you angry. I know it’s making me angry right now.

A few days ago, Oxfam released their latest report called “Carbon Inequality Kills,” and we’ll be talking about that today.

This is a damning report on just how much carbon the billionaires of the world are producing and why it dwarfs any possible emissions you could be producing on your own.

Find us online:
Instagram: https://www.instagram.com/nowthatswhaticallgreen/
Linkedin: https://www.linkedin.com/company/now-that-s-what-i-call-podcasts
‍
Follow me on social media:
Instagram: https://www.instagram.com/briannemwest/
TikTok: https://www.tiktok.com/@briannemwest
LinkedIn: https://www.linkedin.com/in/briannemwest/

‍Wanna know more about Incrediballs?
‍‍www.incrediballs.com‍
‍https://www.instagram.com/incrediballsdrinks/
‍‍https://www.tiktok.com/@incrediballsdrinks

Transcript

Brianne: Kia ora kaitiaki, and welcome to Now That's What I Call Green. I'm your host, Brianne West—an environmentalist and entrepreneur trying to get you as excited about our planet as I am. I'm all about using science to make the world a better place—without the judgment, and making it fun. And of course, we’ll be chatting about some of the most amazing creatures we share our planet with.

If you're looking to navigate everything green—or not so green—you've come to the right place.

Okay, this episode is going to make you mad. Furious. Enraged, even. But hopefully, it's also going to put some of that guilt you feel when you forget your reusable bag into perspective—because the climate crisis is not your fault. It’s not my fault.

And while we are all responsible for fixing it—if we want to live great lives now and for future generations—there are definitely some people more at fault than others. Normally, I talk about corporations, but today, I’m talking about individuals.

Because fifty of the world’s richest billionaires emit more carbon in just 90 minutes than the average person emits in their entire lifetime.

That’s from Oxfam’s latest report, Carbon Inequality Kills. And that’s what we’re talking about today.

The Scale of the Problem

This report blew my mind. I mean, I’m obviously an advocate for personal lifestyle changes—they do matter. Not just because they make you feel better (action is the cure for apathy), but because they show others that action is important. Small changes lead to bigger ones—like voting for better companies and governments.

But these numbers? They prove that where we spend our money and who we vote for is far more important than whether we remembered our reusable cup.

Let’s break it down.

• Half of the world’s total emissions come from the wealthiest 10% of the population.
• If your net worth is over $170,000, you’re in that top 10% globally. That’s a lower threshold than many people expect.
• The top 1%, with net worths over $2 million NZD, contribute 16% of global emissions—more than the combined emissions of the world’s poorest two-thirds.

To put that into perspective:

• If everyone on Earth emitted carbon at the same rate as the top 10%, our remaining carbon budget would be gone in 1.5 years.
• If we all emitted like the top 1%, that budget would be gone in five months.
• If we all lived as extravagantly as the billionaires in this study, our entire carbon budget would disappear in two days.

Superyachts, Private Jets, and Investments

We hear a lot about private jets and yachts—and for good reason.

• Superyachts emit around 7,000 tonnes of CO₂ per year just sitting on standby. That’s what the average person emits in 860 years.
• Private jets, mostly owned by older men in finance and real estate (Oxfam’s words, not mine), emit more carbon than entire communities over their lifetimes.

But it’s not just their luxury toys. The biggest source of billionaire emissions? Investments.

• The average billionaire’s investment portfolio is twice as polluting as the S&P 500 average.
• These investments are 340 times worse than their private jets and yachts combined.
• They’re heavily tied to fossil fuels, mining, and other destructive industries—driving climate breakdown rather than just consuming within it.

And while the ultra-wealthy enjoy the benefits of this economic growth, they aren’t the ones paying the price.

The Human Cost of Billionaire Emissions

The people hit hardest? The ones who’ve contributed the least to the crisis.

Take East Africa, for example. The region has contributed almost nothing to global emissions, yet it faces some of the worst climate disasters.

• In just one year, extreme weather like droughts and floods left 31.5 million people facing acute hunger.
• It’s not just unfair—it’s killing people.

And it’s not just the Global South.

Oxfam’s data shows:

• Jeff Bezos’ two private jets spent 25 days in the air over 12 months. Even at that minimal usage, they emitted as much carbon as an Amazon employee would over 207 years.
• Elon Musk’s jets produce emissions equivalent to 5,437 years worth of carbon for someone in the world’s poorest 50%.
• The Walton family, owners of Walmart, have three superyachts that emit as much carbon in one year as 1,700 Walmart employees do in the same period.

And weirdly—superyachts are exempt from EU carbon pricing and International Maritime Organization rules. I wonder why?

Investment Emissions: The Real Climate Disaster

If you thought private transport was bad, the investment emissions of the ultra-wealthy make that look tiny.

• The richest 1% hold 43% of global financial assets, meaning they have massive influence over the world economy.
• Billionaires control 34% of the 50 largest listed companies—and 7 of the top 10.
• Their investment portfolios alone generate an average of 2.6 million tonnes of CO₂ per person—the equivalent of 400,000 years of carbon emissions for the average individual.

What Can We Actually Do About It?

It’s easy to feel powerless against billionaires. But we’re not.

Because who made them rich? We did.

Corporations thrive off our money. And our power as consumers and voters is huge.

Here’s what we can push for:

1. Regulate luxury emissions. Private jets and yachts shouldn’t be tax-free status symbols—they should be taxed to the nines, if not outright banned.
2. Demand transparency in investments. Billionaires hide their emissions through complex portfolios. They should be forced to report their carbon footprints.
3. Tax extreme wealth. A global wealth tax on the ultra-rich could generate $1.7 trillion per year—which could be used for climate action.
4. Tackle corporate influence. We need to limit the ability of corporations to block climate policies through lobbying.
5. Rethink the economic system. Capitalism as it stands prioritizes the rich at the expense of the planet. That can change—we built this system, which means we can rebuild it.

Voting Matters More Than You Think

I get why people feel disillusioned with politics. I used to feel that way too. But choosing not to vote because no candidate is perfect is a cop-out.

You will not find a politician who aligns with you 100%. But some will be better than others—for people and for the planet. Vote for them.

And remember—democracy isn’t a one-day thing.

Between elections, we need to keep demanding better.

Final Thoughts

At the end of the day, fighting climate change is about more than just your reusable cup. It’s about using your voice, your vote, and your money to drive change where it’s needed most.

Because it’s not just about the environment—it’s about people. It’s about fairness. And at a bare minimum, it’s about ensuring everyone has a shot at a decent future.

So remember—we have way more power than we think.

Kia ora kaitiaki. And if you enjoyed this episode, don’t keep it to yourself. Drop me a rating, hit subscribe, and I’ll see you next week.