Half Of The World’s CO2 Emissions Come From Just 36 Companies

Researchers say data strengthens case for holding firms to account for their contribution to climate crisis.

By Damian Carrington, The Guardian

Half of the world’s climate-heating carbon emissions come from the fossil fuels produced by just 36 companies, analysis has revealed.

The researchers said the 2023 data strengthened the case for holding fossil fuel companies to account for their contribution to global heating. Previous versions of the annual report have been used in legal cases against companies and investors.

The report found that the 36 major fossil fuel companies, including Saudi Aramco, Coal India, ExxonMobil, Shell and numerous Chinese companies, produced coal, oil and gas responsible for more than 20bn tonnes of CO2 emissions in 2023.

If Saudi Aramco was a country, it would be the fourth biggest polluter in the world after China, the US and India, while ExxonMobil is responsible for about the same emissions as Germany, the world’s ninth biggest polluter, according to the data.

Global emissions must fall by 45% by 2030 if the world is to have a good chance of limiting temperature rise to 1.5C, the internationally agreed target. However, emissions are still rising, supercharging the extreme weather that is taking lives and livelihoods across the planet.

The International Energy Agency has said new fossil fuel projects started after 2021 are incompatible with reaching net zero emissions by 2050. Most of the 169 companies in the Carbon Majors database increased their emissions in 2023, which was the hottest year on record at the time.