Richest 10% Of U.S. Families Spew 40% Of GHG Emissions

The richest 10% of US households are responsible for 40% of all the nation's greenhouse gas (GHG) emissions, a study published revealed, underscoring what progressives say is the need for regulations and taxes on carbon-intensive investments, Brett Wilkins and Common Dreams reported for Raw Story.

A study estimated that the wealthiest 1% of humanity was on track to produce 16% of all global CO2 emissions by 2030.

Published in PLOS Climate, the study—which was led by University of Massachusetts Amherst sustainability scientist Jared Starr—analyzed 30 years of US household income data and the greenhouse gas emissions generated in creating that income.

"We find significant and growing emissions inequality that cuts across economic and racial lines," the paper notes. "In 2019, fully 40% of total US emissions were associated with income flows to the highest earning 10% of households."

"Among the highest-earning 1% of households (whose income is linked to 15-17% of national emissions), investment holdings account for 38-43% of their emissions," the publication continues.

"Even when allowing for a considerable range of investment strategies, passive income accruing to this group is a major factor shaping the US emissions distribution."

The study's findings are consistent with research published in 2021 by the Institute for European Environmental Policy and the Stockholm Environment Institute that estimated the wealthiest 1% of humanity was on track to produce 16% of all global CO2 emissions by 2030.

Additionally, a 2022 Oxfam report found that a single billionaire produces a million times more carbon emissions than the average person.

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