London, UK. Britain’s wealthiest individuals are disproportionately responsible for driving the climate crisis with the UK’s highest-income households producing three times the emissions of the poorest. But according to a new analysis of 1000 wealthy Britons, surveyed by researchers at The University of Bath, the super-rich show ‘little motivation’ to reduce their climate impact by adjusting their carbon intensive behaviour.
Matilda Borgström, UK campaigner at 350.org said
“This study shows that despite understanding more about the climate crisis than most people, and having the ability to accelerate climate action through their investments and businesses, the super-rich ‘show little motivation’ to do so. This is why they must be forced, by the government, to account for their carbon intensive behaviour through strong wealth taxes. A wealth tax on just 0.1% of the UK’s richest could raise over £130 billion in five years, enough to insulate millions of homes, provide support with energy bills for the most vulnerable households, retrain workers in the fossil fuel sector and much more. The question of who pays to fix the climate crisis is a no-brainer: it is time for those responsible for most pollution with staggering wealth to pay what they owe, it is time to tax their billions.”
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Notes to Editor
Media contact: Mark Raven, [email protected], +447841474125
Link to the article which will go live on publication
Growing international support to Tax Their Billions:
- More than 100,000 people have already signed a petition demanding that governments tax extreme wealth.
- A survey of 22,000 citizens in the world’s largest economies by Earth4All revealed an overwhelming 68 percent of G20 respondents are supportive of higher taxes on the wealthy to finance significant economic and lifestyle changes.
- An alliance of over 50 civil society organisations has been established, urging governments to #TaxTheSuperRich and end extreme inequality.
- Over 370 millionaires and billionaires are asking to be taxed and recently, the Vatican hosted a conference with prominent guests on tax justice and economic reform.
Photos of Tax Their Billions actions are available for use.
350.org has published the Tax Their Billions Dossier calling out eight billionaires for their extreme wealth and the disproportionate role they play in the climate crisis. The Tax Their Billions Dossier targets ultra-wealthy figures such as Bernard Arnault, the Batista Brothers, and the heirs of the BMW fortune, who are accused of paying far less in taxes than their fair share while profiting from industries that fuel the climate crisis.