Oxfam is an NGO that is often confused with a Marxist front group (see last paragraph). Oxfam did a “study” that concluded a handful of billionaires account for the same emissions as 2/3ds of the world’s population.

They included not just the billionaires personal emissions but also the emissions of companies they have invested in. As in companies that are building products and services for other people. But rather than tally those emissions among the people who consume the products and services, they assigned those to the investors and owners of the companies. Thus, the lower 66% have almost no emissions! This is brilliant!

It also includes between 50% and 70% of emissions by the 1% coming through investments in companies, measured by taking firms’ reported emissions and distributing that proportionate to shareholder ownership of those firms by the 1%. Richest 1% produce same carbon emissions as poorest 66%: report (cnbc.com)

This means if one of the lower 66% buys a car from a company partially owned by a billionaire, the carbon emissions go to the billionaire and not to the person who buys and drives the car. Does this qualify as a middle school science fair project?

Anyway, this headline is 100% fake news. Lots and lots of “professional journalists” with “layers and layers of fact checkers” reproduced this press release from Oxfam. This has also been shared by many academics.  Oxfam kinda sorta acknowledges that their desire for global economic equality isn’t too far from Marxism and they wrote an entire paper to explain why they kinda sorta don’t mean to be Marxists but we kinda sorta are Marxists.