Business News, Environment
From a post by Stephanie Bailey, CNN
|
lavish |
/ˈlaviSH/
adj. - sumptuously
rich, elaborate, or luxurious. "a
lavish banquet" |
|
stuff |
/stəf/ n. - the basic constituents
or characteristics of something or someone. "Healey
was made of sterner stuff" |
|
divestment |
dīˈvestmənt/
n. - the action
or process of selling off subsidiary business interests or investments. "the
importance of divestment" |
|
flexibility |
/ˌfleksəˈbilədē/
n. - willingness
to change or compromise. "the
government has shown flexibility in applying its policy" |
|
instigate |
/ˈinstəˌɡāt/
v. - incite
someone to do something, especially something bad. - bring about
or initiate (an action or event). "they
instigated a reign of terror" |
|
emissions |
/əˈmiSH(ə)n/
n. - the
production and discharge of something, especially gas or radiation. "the
effects of lead emission on health" |
Part 2. Article Reading
Rich people
don't just have bigger bank balances and more lavish lifestyles than the
rest of us -- they also have bigger carbon footprints. The more stuff
you own, and the more you travel, the more fossils fuels are burned, and the
more greenhouse gases are emitted into the atmosphere.
Oxfam
has estimated that the average carbon footprint of someone in the
world's richest 1% could be 175 times that of someone in the poorest 10%.
But some
argue that the wealthy can do the most to help fix the climate crisis. Here's
how they could make a difference.
Spend
wisely
The buying
decisions of the rich mean much more in the fight against climate change than
those of most people.
"Regarding
their own lifestyle choices, the rich can change a lot," said Otto.
"For instance, putting solar panels on the roofs of their houses. They can
also afford electric cars and the best would be if they avoided flying."
In the study, air travel accounted for more than half of the footprint of a super-rich
couple.
Rich people
also have more flexibility to make changes.
Divestment
As well as
choosing what to spend money on, rich people can choose what industries to
invest in -- or not to invest in.
Over 1,100
organizations and 59,000 individuals, with combined assets totaling $8.8
trillion, have pledged to divest from fossil fuels through the online
movement DivestInvest.
Wealth
means power
Wealthy
people are not just economic decision-makers, they can have a political influence
too. They can fund political parties and campaigns and have access to
lawmakers. Otto argued that rich people could use their political power to instigate
positive changes to climate policy.
Fund
climate research
The wealthy
can also support climate research. In 2015, Microsoft founder Bill Gates
committed $2 billion of his fortune to fund research and development into clean
energy.
There's
plenty of incentive for the wealthy to demand climate action: A recent UN report warned that delaying climate policies will cost the world's top
companies $1.2 trillion over the next 15 years.
Role
models
The
super-rich might also have an influence on other people's carbon emissions.
"We
have to redefine wealth in our societies such that living a "good
life" is possible without high greenhouse gas emissions," she said.
Read the full
article here: https://edition.cnn.com/2019/07/12/health/rich-people-climate-change-intl/index.html