Happy New Year? Not for the planet. According to a scathing new report by Oxfam, the world’s richest 1% have already exhausted their "fair share" of the global carbon budget for 2026. The milestone, reached on January 10, has been dubbed "Pollutocrat Day."

While the average Kenyan is urged to plant trees and ban plastic bags, the global elite—billionaires, CEOs, and celebrities—are emitting more carbon in a few days than the bottom 50% of humanity will emit all year. The report, titled "Carbon Inequality Kills," lays bare the staggering disparity driving the climate crisis.

The Jet-Set Footprint

The primary culprit is the "luxury emission" lifestyle. Private jets, superyachts, and multiple mansions create a carbon footprint that is astronomical.

• The Numbers: The richest 1% (77 million people) are responsible for 16% of global consumption emissions. A single long-haul flight in a private jet emits more CO2 than the average person in 50 years.
• Investment Emissions: It is not just about lifestyle. The report highlights that the super-rich also control the companies doing the polluting. "A billionaire's investment portfolio emits 1.9 million tonnes of CO2 a year," Oxfam reveals. "They are profiting from the destruction of the atmosphere."
• The Cost: The report estimates that the emissions of the 1% in 2026 alone will cause 1.3 million excess heat-related deaths over the coming decades, mostly in the Global South.

The Tax Solution

Oxfam is calling for a radical "Wealth Tax" on carbon. The proposal suggests a 60% tax on the incomes of the top 1%, which could raise $6.4 trillion annually—enough to fund the entire renewable energy transition in developing countries.

"We cannot solve climate change by asking the poor to recycle while the rich fly private," said Oxfam’s Climate Policy Lead Nafkote Dabi. "The era of carbon impunity must end."

A Warning for Kenya

As Kenya faces droughts in Mandera and floods in Nairobi, the report is a reminder that climate justice is also class justice. The "polluter pays" principle remains a slogan, while the poor pay the price with their lives.