The buying and investment decisions of the rich mean much more in the fight against climate change than those of most people.
Rich people don't just have bigger bank balances and more lavish lifestyles than the rest of us -- they also have bigger carbon footprints.
The more stuff you own, and the more you travel, the more fossils fuels are burned, and the more greenhouse gases are emitted into the atmosphere. Jetting around, buying luxury goods, keeping mansions warm and driving supercars -- they all have a carbon footprint.Oxfam has estimated that the average carbon footprint of someone in the world's richest 1% could be 175 times that of someone in the poorest 10%. Studies also show that the poor suffer the most from climate change.
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