Last year was the hottest on record and the Earth is headed towards a global warming of 2.7 degrees, yet top fossil fuel and cement producers show a disregard for climate change and actively make things worse. A new Carbon Majors Database report found that just 57 companies were responsible for 80 percent of the global carbon dioxide emissions between 2016 and 2022. Thirty-eight percent of total emissions during this period came from nation-states, 37 percent from state-owned entities and 25 percent from investor-owned companies.
Nearly 200 parties adopted the 2015 Paris Agreement, committing to reduce greenhouse gas emissions. However, 58 of the 100 state- and investor-owned companies in the Carbon Majors Database have increased their production in the years since (The Climate Accountability Institute launched Carbon Majors in 2013 to hold fossil fuel producers accountable and is hosted by InfluenceMap). This number represents producers worldwide, including 87 percent of those assessed in Asia, 57 percent in Europe and 43 percent in North America.
It’s not a clear case of things slowly turning around, either. The International Energy Agency found coal consumption increased by eight percent over the seven years to 8.3 billion tons — a record high. The report names state-owned Coal India as one of the top three carbon dioxide producers. Russia’s state-owned energy company Gazprom and state-owned oil firm Saudi Aramco rounded out the trio of worst offenders.
Exxon Mobil topped the list of United States companies, contributing 1.4 percent of global carbon dioxide emissions. “These companies have made billions of dollars in profits while denying the problem and delaying and obstructing climate policy. They are spending millions on advertising campaigns about being part of a sustainable solution, all the while continuing to invest in more fossil fuel extraction,” Tzeporah Berman, International Program Director at Stand.earth and Chair at Fossil Fuel Non-Proliferation Treaty, said in a statement. “These findings emphasize that, more than ever, we need our governments to stand up to these companies, and we need new international cooperation through a Fossil Fuel Treaty to end the expansion of fossil fuels and ensure a truly just transition.”
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