Top 10% Consumers Carry Environmental Bill That Outstrips Global Climate Financing Gaps
The study monetizes the environmental footprints of the global top 10% of earners across climate, biodiversity, nutrient cycles and freshwater use, finding annual damages of $1.7–$5.7 trillion (about $2.3k–$7.5k per person). The US top 10% incurs a per-capita bill of $19k–$63k, and the total global bill is weighed toward biodiversity loss (47–56%) and climate change (36–45%). The authors argue that adopting polluter-pays-style environmental taxes could fund necessary climate and biodiversity transitions while improving equity, though prices vary by country and policy design is crucial. The work highlights country-specific differences and uses the Environmental Prices Handbook to translate footprints into monetary costs.
- Environmental damages of the top ten percent consumers exceed global climate and biodiversity funding gaps Nature
- ‘Mega-consumers’ of food and energy cost environment $5.7tn a year, study finds The Guardian
- World's Richest 10% Are Costing Earth Trillions, Study Finds ScienceAlert
- World's highest-consuming 10% cause up to $5.7 trillion a year in environmental damage, study finds Phys.org
- The World's Top Consumers Cause Up to $5.7 Trillion in Environmental Damage Every Year Time Magazine
Reading Insights
0
12
20 min
vs 21 min read
98%
4,128 → 101 words
Want the full story? Read the original article
Read on Nature