The world's richest 1% only needed 10 days to use their fair share of annual carbon emissions.
According to analysis conducted by Oxfam, the richest 0.1%, meanwhile, took only three days to exhaust their carbon budget for 2026.
The charity said the people who did the least damage to the climate crisis will be facing the worst effects of the emissions, including people in low-income countries, Indigenous groups and women.
Lower and middle-income countries are most at risk from the detrimental effects of these emissions, with global economic damage potentially adding up to £44 trillion by 2050.
Oxfam urged Britain's chancellor to increase the taxes of the ultra-rich who are responsible for the climate crisis, noting, "The wealthiest individuals and corporations hold disproportionate power and influence.
The UK's richest 1% produced more carbon pollution in eight days than the poorest 50% used in a year.
Besides being responsible for most carbon emissions, the super-rich also invest in the most polluting industries.
Notably, to stay within the agreed global heating limit of no more than 1.5°C above preindustrial levels set by the Paris Agreement in 2015, the richest 1% of the world's population would have to reduce their emissions by 97% by 2030.
