That paper is mostly talking about the richest countries, not individuals, and I don’t buy it.
Norway has nationalized all of its oil profits into a sovereign wealth fund that comprises the pension fund for all its citizens. Yet that doesn’t change the amount of oil they produced.
If every oil producing country in the world did as Norway did we wouldn’t have any oil billionaires but we’d still have to deal with climate change. These countries would still be the richest in the world, they would just have less inequality inside them.
For example: https://www.oxfam.ca/news/richest-1-emit-as-much-planet-heating-pollution-as-two-thirds-of-humanity/
That paper is mostly talking about the richest countries, not individuals, and I don’t buy it.
Norway has nationalized all of its oil profits into a sovereign wealth fund that comprises the pension fund for all its citizens. Yet that doesn’t change the amount of oil they produced.
If every oil producing country in the world did as Norway did we wouldn’t have any oil billionaires but we’d still have to deal with climate change. These countries would still be the richest in the world, they would just have less inequality inside them.