About 15 days of emissions from the richest American was equal to a lifetime of emissions for someone in the poorest 10 percent in America, research found.
that the richest 10 percent may contribute to 40-50 percent of the global carbon emissions based on consumption. For the United States, the inequality is not expected to be so big based on consumption alone, “but if we take into account all the investment related emissions, the inequality of carbon in the US is expected to be much bigger.
The study also calls for better climate policies to address these disparities. Top earners, who are benefiting financially from these emission industries, could be further incentivized to reduce their footprint or pay for the damage caused by the emissions. Starr believes an income or asset-based carbon tax could help motivate top earners, like corporate executives and board members, to decarbonize.
The Inflation Reduction Act could help provide incentives for companies to purchase and produce clean energy and clean tech products, said Shannon Baker-Branstetter, Senior Director of Domestic Climate Policy at the Center for American Progress, who was not involved in the study.
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