Wealthiest 10% cause trillions in environmental damage yearly, study finds | carboncredit.io
earth.comA new study from Leiden University and the University of Oxford estimates the wealthiest tenth of the global population causes between $1.7 trillion and $5.7 trillion in environmental damage each year. The damage covers climate change, biodiversity loss, freshwater use, and nutrient pollution. Biodiversity loss accounts for nearly half of the total, while climate change makes up about 36 to 45 percent. The study uses 2017 consumption data and the Environmental Prices Handbook 2024 to put a monetary value on these impacts. The researchers point out that over 60 percent of the top 10% live in the US and EU. In the US, per-person damage ranges from $19,000 to $63,000 annually. The study argues that applying polluter-pays principles to high-consuming groups could generate revenue on the scale needed to address climate and biodiversity crises. It also notes that investment decisions and corporate leadership from wealthy individuals amplify their environmental impact far beyond personal consumption.