The research from the University of Bath also shows these particular individuals hold the power to drive climate action.
To conduct the research, which was published today (Thursday 6th March) university experts surveyed over 1,000 people, including 43 wealthy individuals and conducted in-depth interviews.
The team decided to take on the research following findings from Oxfam that show globally, the richest 10% were responsible for over 50% of emissions from 1990-2015.
Published in PLOS Climate, the study concluded that the wealthiest Brits are both good and bad for the environment. To support the former, researchers revealed 50% of households earning over £200k bought an electric vehicle in 2022, compared to just 8% of middle-income and 2% of low-income households.
What’s more, higher-income households were also found to be more likely to install energy-efficient heat pumps and take advantage of government subsidies.
Despite this, the research highlighted richer Brits couldn’t fully commit to a more sustainable lifestyle. Co-author of the study, Dr Sam Hampton from the Department of Psychology, said: ‘When it comes to the contradiction between wealthy individuals’ climate concern and high-emission lifestyles, they often underestimate the impact of activities like flying and eating beef while overestimating smaller actions like recycling.
‘Some also justify their choices through comparison, seeing their emissions as reasonable next to others with even more polluting habits.’
Echoing a similar tone, lead researcher Hettie Moorcroft from the Department of Psychology, added: ‘Addressing emissions inequality is essential for a just transition to net-zero. The wealthiest individuals have a unique opportunity – and responsibility – to make a significant impact. Our research highlights how wealthy people contribute to climate change beyond their indirect consumption behaviours, but also how their existing capabilities may be leveraged for accelerated change.’
And capable they are. The research discovered 42% of wealthy respondents believe they can influence businesses through their purchasing power, compared to just 12% of lower-income participants. Likewise, six in 10 well-off respondents were said to be in managerial positions, giving them a higher chance of leveraging corporate sustainability initiatives.
Co-author Dr Sam Hampton from the Department of Psychology said: ‘When it comes to how we can incentivise wealthy people to take a leadership role, making low-carbon behaviours visible and aspirational is crucial. While British culture often avoids showing off, policies like introducing green number plates help normalise and highlight sustainable choices, shifting social norms and expectations.
‘As climate change continues to be a pressing issue, it’s crucial that policymakers focus on making sustainable choices more accessible and appealing for everyone. The wealthiest individuals have a unique opportunity to lead the way. With the right incentives, they could become key players in driving the shift towards a greener, more sustainable future.’
The research can be accessed in full here.
Photo by Etienne Girardet via UnSplash
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