TED Talks Daily Tax the rich — and save the planet | Esther Duflo
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Oct 15, 2025 
Esther Duflo, a Nobel Prize-winning economist, lays out a compelling case for taxing the wealthy to combat climate change. She reveals that rising temperatures will disproportionately affect poor countries, costing them $1.7 trillion annually due to emissions. Duflo discusses how a 3% wealth tax on the richest could generate significant revenue for climate adaptation efforts. She emphasizes the urgent need for direct cash transfers to those affected and proposes a new global agreement to restore trust in climate action among nations.
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Heat Kills In Poor Countries
- Esther Duflo shows that rising temperatures directly cause deaths, especially in poor countries lacking protections like air conditioning.
- She highlights that every ton of carbon emitted contributes to long-term warming and mortality in low- and middle-income nations.
Putting A Dollar Value On Climate Deaths
- Duflo uses a value of statistical life ($2 million) to monetize deaths from emissions and quantify harms.
- She calculates OECD emissions impose about $1.7 trillion per year in damages on poorer countries.
Niger Example Shows Extreme Disparity
- Duflo gives Niger as an example where GDP per capita is about $650 and yearly climate damages from OECD emissions equal $9,000 per person.
- She uses this stark contrast to illustrate how worst-off countries bear outsized losses.