Are Billionaires Good For The Planet?

Student B

1. Let’s take a quick vote. Do you think billionaires are good for the planet?

Yes No
2. Make a list of reasons to support your answer.

3. Scan the following QR code to familiarize yourself with today’s target vocabulary.

4. Work with a partner. Student A read the following text to student B. Student B will listen and fill
in the blanks. Then Student B read the text while student A listens and fills in the blanks.

Why the world cannot afford the rich

Equality is essential for sustainability. The science is clear — people in more-equal societies are more
trusting and more likely to protect the environment than are those in unequal, consumer-driven ones.

The escalating crises in the environment, society, and humanitarian sectors demand immediate attention, with
economic inequality and the _____________ being the focal points. From 2020 to 2022, the wealthiest 1%
_________ nearly twice as much new global wealth as the remaining 99% and emitted as much carbon
dioxide as the poorest two-thirds of humanity, while billionaires doubled their wealth to nearly US$12 trillion
by 2022. ______________________have compiled evidence revealing that income ___________ contribute
significantly to social stress, leading to societal _______________. Countries with wider income gaps
experience higher rates of __________, imprisonment, infant mortality, obesity, drug abuse, and COVID-19
deaths, among other issues. Even __________ individuals would benefit from living in more equal
societies, experiencing improved mental health, reduced violence, and better educational outcomes.
Governments also suffer due to inequality, with potential annual savings estimated at more than $126 billion
in the UK alone.
_______________________________________________________________________________________
____
Addressing inequality is imperative for environmental sustainability, as it reduces excessive consumption
and fosters solidarity crucial for tackling climate emergencies. Psychosocial factors exacerbate the impacts
of inequality, leading to increased stress and unhealthy behaviors. Inequalities also drive consumerism, with
people striving to enhance their social status through material possessions. In more unequal societies,
advertising spending as a proportion of GDP is higher, further promoting consumerism. Inequality also
impedes environmental policy implementation, as seen in protests against eco-taxes in France and Brazil.
Empirical evidence underscores the negative correlation between inequality and environmental performance,
social cohesion, and trust levels. Policymakers must prioritize progressive taxation, international tax reforms,
and corporate governance to address inequality. Legislation promoting employee ownership and cooperatives
can mitigate income disparities and foster sustainability. While reducing economic inequality may not solve
all problems, it is crucial for progress across health, social, and environmental domains, requiring
comprehensive strategies for equitable development.

5. Use words from the box below to complete the sentences.

 richest emits poorest 2022 CO2 66%
2019 problems violence experience reduced educational
health CO2 emitted

A) ______ times as much wealth was True False

captured by the richest 1% of humanity G) How does inequality damage the
than the poorest 99% between 2020-2022. environment?
B) The ______ 1% ______ as much ______
i) It impacts policy implementation.
as the ______ of humans in ______.
C) Countries with narrower income gaps have ii) It drives consumerism.
higher rates of homicide, imprisonment,
iii) It discourages recycling.
infant mortality, obesity, drug abuse, and
COVID-19 deaths. H) What do policy makers need to do to
reduce inequality?
True False
D) How would rich citizens also benefit from i) Increase taxes on the rich.
living in more equal societies?
ii) Cut taxes on the rich.
E) They would ______ improved mental
______ , ______ ______ , and better iii) Encourage employee ownership.
______ outcomes.
iV) Work together with other governments.
F) The British government could save $126
billion by reducing inequality.

6. Discuss the following questions in groups of 3-4.

(A) What comes to mind when you hear the word
‘wealth’?
(B) How do you get wealth?
(C) Does wealth make people happy?
(D) Do you think it’s fair that so much of the
world’s wealth is in the hands of so few people?
(E) What would you do if you had incredible
wealth?
(F) Do you think it’s fair that individuals can
amass great wealth by selling or exploiting their
country’s natural resources?
(G) Do you think people should be forced to
distribute their wealth to create a fairer society?
(H) Do you think the world’s wealthiest nations
do enough to help the poorer nations?
(I) Should there be a wealth tax?
(J) Do you think there should be a maximum
salary?

7. Let’s take another quick vote. Do you think billionaires are good for the planet?

Yes No

8. Write a reflection in your journal about today’s lesson.