Rich People Play A Bigger Role In Combating Climate Change

Human activities have resulted in a higher concentration of greenhouse gases, which play an important role in regulating the temperature on earth. A report by the United Nation in 2013 showed that greenhouse gases, that is carbon dioxide concentration had increased drastically, leading to global warming. Nowadays, we are familiar with the term and its various consequences. They include extreme weather conditions, sea-level rising and loss of habitat for human, plants as well as animals. If we don’t keep global warming under control, in time to come, coastal cities such as Singapore can be fully submerged in water and disappear from the world map. To find out more about global warming and its various economic implications, sign up for economics tuition with a reputable economics tutor today. Edmund Quek is the best economics tutor with his economics tuition centre located conveniently within walking distance from the Bishan MRT Station.

How To Stop Climate Change?

On 12 December 2015, 195 countries reached a landmark agreement to combat the climate change. A legally binding framework, the Paris Agreement aims to ensure prompt actions and sufficient investments by all participating countries to reduce carbon pollution. The immediate challenge is to keep the global temperature rise to below 2 degrees Celsius from pre-industrial levels by the end of 21st century. The global temperature had risen by 1 degree Celsius from the pre-industrial levels as of 2018. With guidance from your economics tutor in economics tuition, discuss the significance of the Paris Agreement.

Apart from support from the world leaders, the battle against the climate change requires all of us to participate actively. Everyone has a part to play to consciously make changes to our daily lives to reduce carbon pollution, from the way we travel to the things we buy. Discuss with your economics tutor in your economics tuition class, the various ways to reduce carbon pollution in our daily lives.

Rich People Have a Bigger Role to Play

It is estimated that the world’s richest 1 per cent have a carbon footprint that is 175 times that of the world’s poorest 10 per cent. The more one owns, the more fossil fuels are consumed and the more carbon pollution. Their luxurious lifestyle is maintained at the cost of irreversible damages to our environment. In consultation with your economics tutor in economics tuition, explain why the wealthy cause more carbon pollution than the poor. With more resources at their disposal, the wealthy could make a difference.

According to the Potsdam Institute for Climate Impact Research, a typical household of two with their net assets exceeding US$1 million contributes to carbon emission of about 65 tons per person per year. This is more than 10 times the global average. If they can consciously adjust their lifestyle to cut down on carbon emission, they will be able to contribute significantly to the environment. One such example is to switch from petrol powered cars to electric cars. Please discuss with your economics tutor in your economics tuition class to list the possible meaningful changes they can make.

While there are increasing number of billionaires involved in businesses in the fossil fuel sector, it is also observed that many wealthy people are pulling out of the sector in a pledge to conserve the environment. For example, over 20 from the Netherlands have pledged to withdraw their investment from the global top 200 oil and gas, as well as coal companies. More can be done. The effort to delay the climate change requires large investments from countries and corporations from all over the world. The wealthy people can support the cause by contributing financially. One exemplary case is Microsoft founder Bill Gates, who pledged US$2 billion towards the research and development of clean energy in 2015.

Linda Geng

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