The world's wealthiest individual accounts for a hugely disproportionate share of the greenhouse gas emissions that are causing global warming not only through their personal consumption but also through the assets and businesses they own and control.

The study estimates the "climate debt" of wealthy individuals by attributing emissions from fossil fuel companies, supply chains, and large real estate holdings directly to their owners.

The top 1 percent of the wealthiest people in the world create about 40 per cent of “ownership-based” emissions, Greenpeace's analysis reveals, mainly as a result of investment habits and not necessarily their lifestyle. Of this elite group, the richest 0.1 percent accounts for approximately 17 percent of the emissions, while the richest 0.01 percent accounts for 9 percent far exceeding their share of the global population.

The study found that these emissions-associated assets contribute to almost one quarter of global gross greenhouse gas (GHG) emissions every year. Greenpeace estimates that the environmental damage associated with the wealth and business interests of the super-rich amounts to approximately US$1 trillion annually.

While private jets, luxury travel, and yachts are often cited as symbols of excessive emissions, the report argues that ownership of carbon-intensive industries has a far greater impact on the climate. Attributing emissions to controlling investors highlights the complex relationship between wealth accumulation and climate change and the design of the system offers a cautionary tale for similar upcoming reforms that might prove unsuccessful.

The findings have significant implications for climate policy, which, according to Greenpeace advocates, should include mechanisms such as progressive taxes on income, a tougher accountability rule for ownership-related emissions, etc., to have a more equitable share of responsibility in the transition to the low-carbon economy.

The study comes amid growing global debate over climate equity, with COP31 expected to place greater emphasis on fair and equitable approaches to climate action.