A new study reveals that the wealthiest Americans, those whose income places them in the top 10% of earners, are responsible for 40% of the nation's total greenhouse gas emissions. The study links income, especially income derived from financial investments, to the emissions used in generating that income. The authors suggest that policymakers adopt taxes focused on shareholders and the carbon intensity of investment incomes in order to equitably meet the goal of keeping the global temperature to 1.5 C of warming.
A new study, led by the University of Massachusetts Amherst, reveals that the wealthiest Americans, those whose income places them in the top 10% of earners, are responsible for 40% of the nation's total greenhouse gas emissions. The study, published in, is the first to link income, especially income derived from financial investments, to the emissions used in generating that income.
"What happens," Starr asks,"when we focus on how emissions create income, rather than how they enable consumption?" Supplier-based emissions are those created by industries that supply fossil fuels to the economy. For instance, the operational emissions released by fossil fuel companies are actually quite low, but they make enormous profits by selling oil to others who will burn it.Producer-based emissions are those directly released by the operation of the business itself -- like a coal-fired power plant.
The team also identified"super emitters" with extremely high emissions intensity. These are almost exclusively among the top 0.1% of households, which are overrepresented in the fields of finance, real estate and insurance, manufacturing, and mining and quarrying.
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Study reveals America's wealthiest 10% responsible for 40% of US greenhouse gas emissionsA new study, led by the University of Massachusetts Amherst, reveals that the wealthiest Americans, those whose income places them in the top 10% of earners, are responsible for 40% of the nation's total greenhouse gas emissions. The study, published in PLOS Climate, is the first to link income, especially income derived from financial investments, to the emissions used in generating that income.
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