https://en.sputniknews.africa/20260805/climate-colonialism-worlds-wealthiest-drive-emissions-africa-foots-bill-1088097137.html
Climate Colonialism: World’s Wealthiest Drive Emissions, Africa Foots Bill
Climate Colonialism: World’s Wealthiest Drive Emissions, Africa Foots Bill
Sputnik Africa
The globe's richest individuals have built fortunes through stakes in and ownership of highly polluting assets while African communities with far fewer... 05.08.2026, Sputnik Africa
2026-08-05T17:40+0200
2026-08-05T17:40+0200
2026-08-05T17:40+0200
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Climate Colonialism: World’s Wealthiest Drive Emissions, Africa Foots Bill
Sputnik Africa
The globe's richest individuals have built fortunes through stakes in and ownership of highly polluting assets while African communities with far fewer resources face the growing consequences of climate change, according to a recent report that estimates extreme wealth is linked to almost US$1 trillion in annual investment-related climate debt.
Climate accountability is increasingly shifting from individual consumption habits to the financial systems and ownership decisions that sustain high-emission industries. The Greenpeace report Understanding the Climate Debt of Extreme Wealth examines this link by measuring the emissions associated with the consumption and investment portfolios of the world’s wealthiest individuals. The analysis estimates that the richest 0.01 percent were linked to about US$1.4 trillion in annual climate debt, with portfolio-related emissions accounting for approximately US$992 billion in 2022, compared with US$405 billion from consumption. The findings add to growing debates over how responsibility for climate damage should be distributed among those with the greatest economic power and influence.African Currents interviewed Koalie Monaheng, Global Political Lead for the Fair Share Campaign at Greenpeace Africa, to discuss the far-reaching implications of the study for Africa. Monaheng contends that Africa's low emissions contribution has not shielded it from severe climate losses.Listen to the full interview on the African Currents podcast, presented by Sputnik Africa.► Stream the podcast on Telegram, Apple Podcasts, Spotify, Deezer, Pocket Casts, Afripods, Podcast Addict.► Subscribe to and explore all the episodes of African Currents.
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Climate Colonialism: World’s Wealthiest Drive Emissions, Africa Foots Bill
The globe's richest individuals have built fortunes through stakes in and ownership of highly polluting assets while African communities with far fewer resources face the growing consequences of climate change, according to a recent report that estimates extreme wealth is linked to almost US$1 trillion in annual investment-related climate debt.
Climate accountability is increasingly shifting from individual consumption habits to the financial systems and ownership decisions that sustain high-emission industries. The Greenpeace report Understanding the Climate Debt of Extreme Wealth examines this link by measuring the emissions associated with the consumption and investment portfolios of the world’s wealthiest individuals. The analysis estimates that the richest 0.01 percent were linked to about US$1.4 trillion in annual climate debt, with portfolio-related emissions accounting for approximately US$992 billion in 2022, compared with US$405 billion from consumption. The findings add to growing debates over how responsibility for climate damage should be distributed among those with the greatest economic power and influence.
African Currents interviewed Koalie Monaheng, Global Political Lead for the Fair Share Campaign at Greenpeace Africa, to discuss the far-reaching implications of the study for Africa. Monaheng contends that Africa's low emissions contribution has not shielded it from severe climate losses.
"The climate debate often concentrates on visible consumption. So the private jets, the yachts, and the large homes—these lifestyles, to a certain degree, are important. But our research then goes on to a different level to say ownership can also be consequential, right? It says for the average individual in the richest 0.01 percent. So let's unpack that definition of climate colonialism: It's a system in which countries and economic groups that have benefited the most from carbon-intensive development retain control over wealth, technology, and finance. That's one part of it. The other part is while those who have contributed least get the greatest harm. The IPCC, rather, has established in high confidence that Africa is among the lowest historical contributors to GHG emissions but currently has the lowest per capita emissions of any region [...]. Wealthy economies use fossil fuels to industrialize, accumulate capital, and consume a disproportionate share of that atmospheric space available for emissions [...], while Africa, which is now in this day and age expected to develop within a far more restricted carbon budget, as well as pay high borrowing costs for its transition and export the minerals required to decarbonize richer economies," Monaheng said.
Listen to the full interview on the African Currents podcast, presented by Sputnik Africa.
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