The wealth of the world’s 10 richest men has doubled since the corona pandemic began, while over 160 million people are projected to have been pushed into poverty. Besides, 252 men have more wealth than all 1 billion women and girls in Africa and Latin America and the Caribbean, combined. Even worse, due to Covid women and girls combined have lost about 800 billion dollar in 2020. And twenty of the richest billionaires are estimated to be emitting as much as 8,000 times more carbon than the billion poorest people on our planet.
COVID Pandemic: the rich get richer
While the rich are getting richer, the incomes of 99% of humanity are worse off because of COVID-19. Widening economic, gender, and racial inequalities—as well as the inequality that exists between countries—are tearing our world apart.This is not by chance, but choice: “economic violence” is perpetrated when structural policy choices are made for the richest and most powerful people.
This causes direct harm to us all, and to the poorest people, women and girls, and racialized groups most. Inequality contributes to the death of at least one person every four seconds. But we can radically redesign our economies to be centered on equality.
We can claw back extreme wealth through progressive taxation; invest in powerful, proven inequality-busting public measures; and boldly shift power in the economy and society. If we are courageous, and listen to the movements demanding change, we can create an economy in which nobody lives in poverty, nor with unimaginable billionaire wealth—in which inequality no longer kills.
These are shocking facts that have been reported by Oxfam Novib in their yearly report regarding economic inequality in our world, “Inequality Kills“.
Half of the carbon emission caused by 10% of the world population
Another Oxfam Novib report, “Carbon inequality in 2030“, shows that the richest 10 percent of the world population has been responsible for half of the carbon emissions over the past 25 years and it is not expected this will significantly change in the upcoming years. The total emission of the richest 1 percent is double the total emission of the poorest 50% of our world population, meaning that about 70 million people emit twice as much as the poorest 3.5 billion people.
So, while the rich are getting richer, they emit the highest carbon amounts, and the major part of the world is getting poorer and has to pay the costs for the pollution of the rich.