Climate Change is Widening the Wealth Divide

How renewable energy can help close the gap and spread equity to all

Credits: Unsplash

Since the 1960s, climate change has exacerbated economic inequality, leaving developed nations much richer, while making many developing ones much poorer. So much so, the United Nations declared climate change and economic inequality as a “vicious cycle, whereby initial inequality makes disadvantaged groups suffer a disproportionate loss of their income and assets, resulting in greater subsequent inequality.” While carbon emissions have enriched many cool countries, like Canada and Norway, it has dampened economic prospects for warm countries, like Madagascar and Sri Lanka.

In every country, poor people are at the most risk from climate change, since they typically occupy areas with the worst air quality and live near more water pollution. They also live closer in proximity to waste facilities, coal plants, and oil refineries. Even in developed nations, poor people are less likely to receive federal grants to fix their communities after natural disasters, and they are less likely to afford protections against climate change, like proper air conditioning. The rising heat also decreases productivity and results in more health issues.

Developed nations are disproportionately responsible for climate change, and throughout history, rapid…