The richest 0.1 percent of the world’s population emit more carbon dioxide than the poorest 3.5 billion people combined, according to a report published on 27 October by Oxfam.
The report, titled *Disaster Divide*, states that this elite group—roughly 8 million people—produces more emissions than nearly half of humanity. Oxfam also found that these ultra-wealthy individuals profit from climate disasters, with 217 companies identified as benefiting from either causing the climate crisis or from post-disaster reconstruction.
Private jets alone emitted 16 million tons of CO₂ in 2025, the report notes. A single private jet flight releases an average of 3.7 tons of CO₂, nearly matching the annual emissions of an average global citizen. In Germany, over 55,000 private jet takeoffs in 2025 generated more than 182,000 tons of CO₂, with each flight producing more emissions in under 30 minutes than a typical German citizen does in a year .
Oxfam’s analysis of 1,000 billionaires’ investments in 2025 revealed that 71 percent were directed toward highly polluting sectors such as oil, gas, and chemicals, contributing 486 million tons of CO₂-equivalent emissions. German billionaires among this group had average investment-related emissions of 704,881 tons each, far above the global average .
Amitabh Behar, Oxfam International’s executive director, condemned the disparity, stating, “The ultra-rich are setting fire to the planet and then making us pay for the fire extinguishers” .
Oxfam called for higher taxation on extreme wealth, private jets, and excess profits—particularly from fossil fuel companies—to ensure those most responsible for the climate crisis contribute more to its resolution. The organization also urged greater support for economically disadvantaged nations and communities in addressing climate impacts .
The UN climate conference, set to begin on 9 November in Antalya, Turkey, will address climate financing for poorer nations, a demand Oxfam reiterated in its report .
