The Climate Inequality Report 2025 reveals that the world’s wealthiest 1% are responsible for 41% of global emissions linked to private capital ownership.

About the Climate Inequality Report 2025

• The report, co-authored by Lucas Chancel and Cornelia Mohren of the World Inequality Lab, highlights the unequal responsibility for global emissions. 
• It emphasizes that climate change is not merely driven by consumption but by the ownership of high-emission assets such as fossil fuel companies and heavy industries.
• Key Findings: The Rich Own the Climate Crisis
  • Wealth-Based vs. Consumption-Based Emissions: The top 1% contribute 15% of global consumption-based emissions but 41% of emissions from capital ownership, showing wealth-driven climate responsibility.
  • Ownership-Based Approach Offers a Truer Measure: The report differentiates between consumption-based emissions (from goods and services used) and ownership-based emissions (from assets and investments held).
  • Extreme Emission Disparities: Per capita emissions of the top 1% are 75 times higher than the bottom 50% on a consumption basis, and 680 times higher when asset ownership is considered.
• Policy Recommendations
  • The report proposes taxing the carbon content of assets and investments held by the wealthiest individuals.
  • Such taxation targets producers rather than consumers, encouraging diversification away from high-carbon industries and addressing inequality in climate responsibility.

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Conclusion

The report reframes climate justice, urging governments to link wealth inequality with emission accountability for a fairer and more effective climate transition.

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