“The super-rich are treating our planet like their personal playground, setting it ablaze for pleasure and profit. Their dirty investments and luxury toys —private jets and yachts— aren’t just symbols of excess; they’re a direct threat to people and the planet,” said Oxfam International Executive Director Amitabh Behar.
Try mentioning this to Tailor Swift fans and you’ll get immediately crucified. We should normalize the idea that THERE ARE NO ETHICAL BILLIONAIRES. Period.
It’s a staggering amount of wealth that allows to do shit like this and why do we tolerate this is will be eternally confusing to me.
Not only is this an issue of equality but it’s a social issue as well. People stop taking public responsibility issues like pollution or climate change seriously because “if private jets are legal then why should I do anything?”.
You can add Gaben to that list. Steam can do no wrong even though Gaben spend between 75 and 100 million per year on maintenance for his yatch fleet.
Billionaire simps disgust me.
We must all do our part to curb carbon emissions.
No not like that!
Billionaires are a problem.
Billionaires are a problem.
Always has been
There are obvious, executable solutions.
Why is “death for billionaires” so taboo though? Clearly they’re damaging our society much more than a single murderer or marijuana carrier and yet we have no problem accepting that these people should be punished socially but if you mention guillotines for billionaires then suddenly you’re an extremist.
I mean murdering people is extremist.
Taking their money would achieve the same.
Here’s the actual study
This number is almost entirely investment emissions, how much the companies they own emit.
Oxfam’s analysis found that investment emissions are the most significant part of a billionaire’s carbon footprint. The average investment emissions of 50 of the world’s richest billionaires were around 2.6 million tonnes of CO2 equivalents (CO2e) each. That is around 340 times their emissions from private jets and superyachts combined. Each billionaire’s investment emissions are equivalent to almost 400,000 years of consumption emissions by the average person, or 2.6 million years of consumption emissions by someone in the poorest 50% of the world.44
Im beginning to give up on lemmy. Thanks for trying.
Aren’t they responsible for the risk their investments carry? Isn’t that part of the value proposition?
If they have so much investments in companies producing CO2, why aren’t they using their weight to push for lower emissions?
You could assign company emissions to the consumers, the employees, or the owners. Without any one of those the company wouldn’t emit. I just wanted to make it clear that this study assigns it to the owners.
If we eliminate all the billionaires the rest of us will continue to live for at least another century… It is worth doing.
I’m vegetarian for the climate, but I’m willing to eat the rich for the climate too
This is bad. Reminder that there’s just ~2000 of them known, though, so it only takes 8 seconds for everyone else to pass their annual emissions collectively.
It’s not an excuse to not care about your own impact.
Including investments seems a bit disingenuous. I’m sure their personal carbon footprint is already huge without having to include that.
If you don’t include investment emissions, they’d emit more in 22 days than the average person does in their life.
The power their money has when invested is far different than yours or mine. They could single handedly ensure certain companies do not fail, get specific contracts, bypass regulations and many other shady things.
Perhaps, but think of it this way: you likely have money invested or money that is invested on your behalf, whether that’s personal, 401k, IRA, or government pension. Those are likely investments spread across many companies - so should your carbon footprint take into account what those companies are doing?
I’d suggest that companies should be responsible for their carbon footprint, and legislated accordingly. Pushing it to investors, or on their customers, just seems like passing the buck.
I think people should have some responsibility for the emissions of their investments. If I’m exclusively investing in fossil fuel companies I’d be directly investing in emitting carbon. In the case of the billionaire class, some companies would have never attempted certain projects or even stayed in business without their billionaire supporters. They may have even been able to take losses and coast on investments while they grab their share of the market then shift to being more profitable.
The manipulation some billionaires do with their money is insane. Jeff Bezos managed to shuffle his assets and investments around just right one year that he was “poor enough” income wise to collect a tax benefit for his kid. We absolutely need to include investments when we are judging billionaires, it is often their investments that keep them rich, not some massive pile of cash or gold stashed away somewhere.
Not really, unless you directly purchase the shares, you get no proxy voting rights on corporate governance.
When you have an investment account, do you know who does take your money and hold the corporate governance rights? The fund managers.
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Who should be responsible for the pollution of the investments if not the one profiting off them?
Yep, these companies wouldn’t stop existing if their shares were distributed evenly between people and the clients should be considered responsible for the emissions considering they’re the ones requesting the product.
There are so many better climate change comparisons than this yet I keep hearing this stupid one repeated over and over. Ultimately it doesn’t matter than billionaires personally emite more carbon than “the average person” because even if they dropped that stat to match the average there would be absolutely no difference.
Target the biggest carbon emitters which is businesses. Every time carbon emissions is brought up it should be in the context of making businesses emit less carbon. Make them pay for emitting carbon, give tax credits for green technology that stuff will be infinetly more effective that targeting specific people.
I don’t care that Taylor swift took a jet to her concert its not her issue to fix. Its the responsibility of the government to solve this through strong environmental policy. Government policy changing incentives will flow down to the individual and adjust their behaviour instead of a mob trying to shame individuals into changing their behaviour.
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I know they are the same people but it’s still two different things. A persons carbon footprint is different to the business even if that person is the ceo
Almost all of these emissions in the headline are from the businesses they own shares in. So this is saying business emissions, just in a non-intuitive roundabout way.
Man the more u hear about this Mr. Billionaire fellow the more I don’t like him
that which is eaten cannot emit carbon pollution
