An eye-opening study has revealed that merely 57 corporations involved in oil, gas, coal, and cement production are responsible for a staggering 80% of the world’s greenhouse gas emissions following the 2016 Paris climate agreement. This select group of state-controlled and shareholder-owned multinationals stand at the forefront of driving the ongoing climate crisis, as per data from the Carbon Majors Database, crafted by esteemed global researchers.
Despite the international commitment at the Paris climate accord to reduce greenhouse emissions, the subsequent analysis highlights a contrary scenario where the majority of these mega-producers have escalated their fossil fuel production and consequent emissions over the seven years post-agreement, in contrast to the preceding period.
The Carbon Majors Database, which tracks the historical climate pollutants, indicates a significant increase in production from both state entities and private-sector companies, identifying ExxonMobil as the largest investor-owned emitter. This American giant alone contributed to 3.6 gigatonnes of CO2, marking 1.4% of global emissions, closely followed by industry giants such as Shell, BP, Chevron, and TotalEnergies, each accounting for at least 1% of the worldwide emissions.
A notable finding from the study is the marked increase in emissions from state and state-owned producers, especially within the Asian coal industry, challenging the International Energy Agency’s caution against new oil and gas fields to maintain global heating within safe limits. The rapid approach towards the critical Paris target of 1.5C above pre-industrial levels signals alarming consequences for human and ecological well-being.
Richard Heede, the founder of the Carbon Majors dataset, criticizes the moral failure of companies expanding fossil fuel exploration and production, emphasizing the unjust blame placed on consumers who rely on oil and gas due to governmental influence by these industries.
This research has significantly shifted the narrative around climate crisis accountability, focusing on the entities profiting from fossil fuel extraction over end-consumer emissions. The Carbon Majors study serves as a foundation for climate lawsuits and has informed impactful journalism, including The Guardian’s 2019 series “The Polluters” which exposed the 20 companies responsible for a third of all carbon emissions.
The database, now accessible on InfluenceMap’s website, draws a stark comparison between historical emissions dating back to 1854 and the trends following the 2016 Paris agreement. It details how Chinese coal production has dominated historic CO2 contributions, a trend that has only intensified in recent years, underscoring the shifting global emission dynamics towards Asia, particularly China, Russia, and India.
As the climate crisis intensifies, calls for moral accountability and financial contributions from fossil fuel companies towards damage mitigation grow louder. Actions aiming to hold these corporations responsible, such as public campaigns and legal motions, underscore the urgent need for concerted efforts to ensure a livable planet for future generations.
In response to these findings, a spokesperson for Shell highlighted their commitment to achieving net-zero emissions by 2050, aligning with the ambitious goals of the Paris agreement and reporting significant progress towards their 2030 emissions reduction targets.
This pivotal study underscores the critical role of major fossil fuel producers in the climate crisis and the pressing need for a global shift towards sustainable energy solutions.
