Most polluted watercress: Oxfam reveals Techint Group’s role in emitting greenhouse gases | Report on the environmental impact of mega millionaires

The Greenhouse gas emissions from the world’s 125 richest people It is 50 percent higher than Argentina’s total impact on global warming and equals the value of a developed country like France, where 67 million people live. This is one of the conclusions study From Oxfam Dubbed The Carbon Billionaires, it was published Monday as the kick-off of the annual COP27 conference on climate change being held in Egypt.

The businessman appears on the list published by Oxfam Paulo Roca, Techint Leader. Considering its contribution to the various companies of the Techint Group and calculating the greenhouse gas emissions of each of these companies, Oxfam estimates that Roca and her family, through their participation in Tecpetrol, Tenaris and Terniumannually emits approximately 9 million tons of carbon dioxide equivalent (CO2eq, a measure used for greenhouse gas emissions).

in the middle, Each billionaire emits 3.1 million tons of carbon dioxide equivalent, a number nearly a million times more than the 2.76 tons per year emitted by the poorest 90 percent of humanity. In Argentina, the rate of greenhouse gas (GHG) emissions is 4.02 tons per year per capita.

Such a difference between the richest people in the world and the mortals Not just because of private jet or yacht travel. The novelty in the Oxfam study is that the sum of greenhouse gas emissions from the super-rich includes the carbon footprint of the companies in which these people invest their money, which is ultimately the source of their capital appreciation.

super rich

In total, it exports the top 125 393 million tons of carbon dioxide equivalent annually. A well-known name on the local scene appears in the list. Paolo Roca and his family, through their participation in Tecpetrol, Tenaris and Ternium, annually emits, according to Oxfam, approximately 9 million tons of carbon dioxide equivalent. Among the world famous personalities appear Charles Slimwith approximately 7 million tons of carbon dioxide equivalent.

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crowded buffet 3.5 million tons of carbon dioxide equivalent was recorded; Bill Gates4.8 million tons. Elon Musk, the owner of Tesla, is responsible for emitting 79,000 tons of carbon dioxide equivalent. Jim Walton Walmart, to emit 2.1 million tons; and Alice Walton of the same series for 2.2 million.

To compile this data, Oxfam turned to Bloomberg’s latest billionaire list, since last Augustand compared the data with the contributions of these people to their major investments in companies. At the same time, he evaluated the carbon footprint of the companies involved according to the weight of the billionaire’s contribution. To measure companies’ carbon emissions, the report was based on data published by the companies themselves along with international standards on the matter, such as Greenhouse Gas Protocol.

The report is clearly visible The degree of disparity between the few people who enter the room and the rest of the world when it comes to responsibility for global warming. It also shows how there are self-selling personalities who support more friendly environmental policies, while money is invested in polluting sectors. There is a dissonance between what is said and what is done. Page / 12 Oscar SyriaFrom the Avaaz entity.


The Oxfam report also warns of this 14 percent of the 125 largest investments go to highly polluting sectors, such as fossil fuels and cement. This percentage doubles the average recorded by those sectors as recipients of investments, according to the Standard and Poor 500 Index.

Another sample of More relative weight to the most polluting investments of the richest peopleFor every million billionaires, they emit 162 tons of carbon dioxide equivalent annually. In contrast, every million invested in the S&P 500 on Wall Street generates 86 tons of carbon dioxide equivalent.

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According to the document, although the personal consumption of billionaires can be thousands of times higher in carbon emissions than ordinary citizens, when accounting for the pollution from their investments in companies, the difference amounts to much more. it is expected that Between 50 and 70 percent of billionaires’ carbon footprint is explained by their company’s investments.

This is not to say that there are instances of consumption that are still seen socially as great feats, when in fact they represent a huge disparity in environmental matters. The most outrageous case is that of the new private spaceflight, Which emits more carbon dioxide in a few minutes than the average person throughout their life.

The intersection of the environmental issue and global warming with the distribution of income and wealth for him as a reference work carried out last year led by Oxfam in partnership with Stockholm Environment Institute (SEI). This report revealed that The richest 1 percent of the planet, about 63 million people, were responsible for 15 percent of the cumulative emissions of greenhouse gases. “These individuals emit 35 times higher than the carbon dioxide equivalent level consistent with the goals of the 2030 Paris Agreement,” the work said. Similar results have been published by economists Thomas Piketty and Lucas Chance.

Another study signed by Beatrice Barros and Richard Welk Found that in 2018 greenhouse gas emissions from The yachts, private planes and helicopters, and the energy consumption in the mansions of 20 billionaires produced an average of 8,194 tons of carbon dioxide equivalent per capita. In contrast, the poorest million people on the planet emit only 1.4 tons per year.

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When it comes to proposals, Oxfam asserts that “Governments should tax the richest people more To radically reduce inequality and the concentration of wealth, reduce unsustainable high emissions, as well as reduce their power and impact on an economy based on fossil fuels. This could generate more revenue for countries to tackle the climate catastrophe. The proceeds could also help move towards an equitable energy transition.”

The Focus on inequality when analyzing the environmental issue He proposes a political position that differs from the prevailing discourse in international forums such as the current climate change conference in Egypt. Observing inequality, between people as well as between countries, forces us to do so redistribution of the burden of carrying out energy transmission, This entails short-term economic costs, as poorer populations or countries have greater relative difficulties in coping with this task.

Freddie Dawson

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