The world's top 10% spenders are responsible for environmental damage worth between $1.7 and $5.7 trillion
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.