Billionaires emit million times more greenhouse gases than the average person: Study

Billionaires emit million times more greenhouse gases than the average person: Study

Emissions from billionaires lifestyles and private jets are thousands of times higher than those of the average person, a recent report said.

The wealthiest investments account for up to 70% of greenhouse emissions, compared to average person.

Billionaire investments produce an annual average of 3 million metric tons of carbon dioxide (CO2) per person.

It is a million times higher than the average 2.76 tons of CO2 for those living in the bottom 90%.

“Few billionaires have ‘investment emissions’ that equal carbon footprints of entire countries like France, Egypt or Argentina," an expert said.

The study also found billionaires had an average of 14% of their investments in polluting industries such as energy and materials like cement.

In 2020, US greenhouse gas emissions totaled 5,222 million metric tons of carbon dioxide equivalents.

President Biden has pledged to cut greenhouse gas emissions in half by 2030.