Mr. Simon Murtagh:

I will make a few practical points. On the shipping issue, it is important to get this right so that it is proportional because many developing countries depend on shipping for their trade in goods. If we were to have a broad rate of carbon tax applied to shipping, the problem could be that it would fall disproportionately on lower income countries. It should be done in a proportional way.

On the emissions of the richest 10% of people in the world, broadly speaking, what we now have in our report is an image of a champagne glass, where, as can be imagined, the stem is very narrow at the start, gets a bit broader in the middle, but not by much, and an extremely large amount of emissions comes from the richest 10% of people at the top. Within that, there is then an outsized contribution from the richest 1%. It is not really feasible to say we can tackle greenhouse gas emissions without looking at the richest 10% and the richest 1%. That is clear in our figures.