Global North countries, which make up just 16% of the global population, are responsible for 92% of excess CO2 emissions and 74% of material resource overshoot, with much of this extracted in the Global South for Northern consumption. These nations have evaded their responsibility for the ecological crisis, engaging in what can be termed atmospheric colonization. The Green New Deals proposed by the Global North often disguise colonial practices, as they rely on the Global South to supply the minerals needed for a transition from fossil fuels to renewable energy, perpetuating a cycle of green colonialism rather than structural transformation. The consequences are severe. Wealthy countries continue to deplete the global carbon budget while promoting renewable energy policies that primarily serve to concentrate profits. The aggressive extraction of minerals in the Global South will destroy local ecosystems and biodiversity. According to the planetary boundaries framework, climate change and biodiversity integrity are interconnected, and breaching these limits will have irreversible effects on other global boundaries. The wealthy are on track to consume nearly 70% of the remaining carbon budget before hitting critical environmental tipping points.