TED Business Tax the rich — and save the planet | from TED Talks Daily
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Nov 17, 2025 
Esther Duflo, a Nobel Prize-winning economist renowned for her work on poverty, tackles the urgent climate crisis with a bold proposal: taxing the ultra-wealthy. She reveals that rising temperatures disproportionately impact poorer nations, costing them approximately $1.7 trillion annually due to greenhouse gas emissions. Duflo suggests a 3% wealth tax on the richest individuals to raise vital funds and emphasizes public support for such measures. She advocates for direct cash transfers to affected communities, promoting resilience and social safety nets.
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Heat Kills Lives In Poor Countries
- Rising temperatures directly increase mortality, especially in poor, hot countries lacking protections like air conditioning.
- Esther Duflo estimates an extra 6 million deaths by 2100 due to temperature alone, concentrated in low- and middle-income countries.
Emissions Impose Trillions In Damages
- Every ton of greenhouse gas causes long-lasting warming that translates into measurable economic damages and lost lives.
- Duflo values a statistical life at $2 million and computes OECD emissions impose about $1.7 trillion yearly in damages on poorer countries.
Fund Climate Reparations Through Taxes
- Raise climate restitution through public taxation of the ultra-wealthy and large multinationals rather than relying on philanthropy.
- Duflo proposes a 3% annual wealth tax on the 3,000 richest people and higher minimum corporate tax to generate large revenues.