David Castells-Quintana

A team from the UK and the Netherlands has estimated the environmental cost attributed to the actions of the top 10% of spenders—generally the wealthiest—both globally and in the richest country on each continent. Globally, they are responsible for damages worth between US$1.7 trillion and US$5.7 trillion. These figures exceed the funding needed to meet the 2035 climate finance target agreed upon at COP30—US$993 billion—and to cover the funding needed to halt biodiversity loss by 2030—US$657 billion. The study is published in Communications Sustainability, a journal of the Nature group. 

The economic costs of CO₂ emissions can be calculated in three ways: through the historical damages resulting from past emissions; through the expected future damages caused by those past emissions; and through the expected future damages from current or future emissions. A study published in Nature concludes that the future economic costs associated with past emissions could be at least ten times higher than the costs already incurred from those same emissions. The authors estimate that one tonne of CO₂ emitted in 1990 caused $180 (around €155) in global damages up to 2020, but will generate an additional $1,840 (nearly €1,590) by 2100. The analysis covers countries, high-net-worth individuals and major companies, as well as behavioural patterns, including taking an additional long-haul flight each year or choosing a non-vegetarian diet.

In an analysis published in Cell Reports Sustainability, an international team of researchers proposes a regular cash payment for the entire world population, which could increase global Gross Domestic Product (GDP) by 130 %. According to the authors, this basic income could be paid for, in part, by a tax on carbon emitters, which would also help to reduce environmental degradation.