Climate Inequality Report 2023

Climate Inequality Report 2023

News: According to the Climate Inequality Report 2023, low and middle-income countries are disproportionately impacted by climate change even though they emit less GHGs than their richer counterparts.

Key Findings:
 48% of emissions are from the top 10% of emitters, having 76% capacity to finance and their relative loss is a mere 3% from climate change.
 The global bottom (50%) has only a 2% capacity to invest, with an emission of 12% and a massive relative loss of 75%.
 Climate change contributes to economic destitution in subtropical and tropical countries. For instance, it reduces agricultural productivity in poorer nations while increasing it in some temperate nations.
 Climate change also has adverse effects on mental health. For example, a 1-degree Celsius increase in monthly average temperatures increases suicide rates by 2.1% in Mexico.

Key Suggestions:
 The wealthiest individuals (0.001% of the world’s adult population) with over $100 million should pay a ‘progressive tax’ ranging from 1.5-3% of their fortune to help less fortunate people adapt to global warming and crisis.
 Combating global poverty need not overshoot global carbon budgets to meet the Paris Agreement
 Redistribution measures to combine poverty alleviation and climate change mitigation efforts.
 Emerging economies like China carry increased responsibility to produce transparent strategies for reaching Net Zero emissions.

Way Forward
 The need for a just transition to a low-carbon economy reflects unequal responsibility for causing the climate crisis and uneven capacity to help address it. Not only countries but also individuals have different toward combating climate change and ensuring climate justice.