Dreaming of a green Christmas? Lex tapped its inner Grinch to calculate the carbon cost of a household’s celebrations, basing its figures on UK average spending patterns. Badly chosen presents accounted for as much as two-thirds of the festive season’s footprint.

This idea derives from “Scroogenomics”, the brainchild of economist Joel Waldfogel who calculated that between 10 per cent and a third of gifts, by value, were wasted. Some economists, trying to redeem the dismal science’s reputation, argue that the pleasure from giving the gift can make all the difference.

Financial Times