One dimension which has been largely left aside by climate policies around the globe is addressing the large carbon footprints of the very wealthy. Given the huge responsibility of wealthy groups in overall emissions levels (within countries and at the global level), this lack of focus is questionable. So far, the standard way to think about carbon... See more

In Table 6.8, we provide estimates of a global progressive wealth tax on global multimillionaires, including a pollution top- up. Revenue estimates are based on those presented in Chapter 7, and include an additional tax component, based on the ownership of stock in the world’s leading oil and gas majors. A discount is applied when fossil fuel... See more