Natural atmospheric equilibrium in the biosphere is maintained by carbon dioxide (CO2) emissions by nature being offset by CO2 atmospheric uptake, for example through photosynthesis. Yet due to deforestation and massive uncontrolled emissions of greenhouse gases, humankind has upset this delicate balance, unleashing climate change and global warming.
Coal and gas power plants, oil refineries, the cement industry, and other massive industrial facilities produce an enormous amount of greenhouse gases and apparently, this trend does not yet appear to be abating. One of the reasons for this is that fossil fuels continue to be the go-to option for manufacturers as either an energy source or as a raw material for the production of plastics, for instance.
Hundreds and thousands of companies operate in these polluting, but necessary, industries.
However, recent research by non-profit think tank, InfluenceMap, discovered that a shocking 80% of worldwide CO2 emissions could be traced back to a small number of companies – just 57, highlighting the massive environmental impact these entities have. Activists and environmentalists state that the companies responsible for high emissions continue to generate significant profits, giving rise to ethical concerns over the balance between economic expansion and environmental conservation.
Who in particular is responsible for 80% of global CO2 emissions?
According to an analysis by InfluenceMap, which is recorded in its Carbon Majors Database, the 57 companies that unleashed 80% of global carbon emissions between 2016 and 2022 include Western petroleum multinationals like Exxon Mobil, Shell, BP, and Chevron, as well as government-run titans and investor-owned companies like Saudi Aramco, Gazprom, and Coal India.
The Carbon Majors Database, which features information on historical emissions from 122 enterprises, shows that between 1854 and 2022 some of the world’s largest oil, gas, coal, and cement producers were responsible for 1,421 GtCO2e of total emissions.
The database classifies entities into three categories:
- Investor-owned enterprises – responsible for 31% (440 GtCO2e) of emissions
- State-owned companies – responsible for 33% (465 GtCO2e) of emissions
- Nation-states – responsible for 36% (516 GtCO2e) of emissions.
These corporations have substantially increased fossil fuel production despite international treaties such as the Paris Agreement that attempt to reduce carbon footprints. The problem is global with notable production spikes in North America, the Middle East, and Asia.
Top 10 most polluting investor-owned companies (2016 – 2022)
ExxonMobil, Shell, BP, and Chevron are the investor-owned corporations with the highest historical greenhouse gas emissions, contributing almost 5% to global emissions.
Source: The Carbon Majors Database: Launch Report
*The total emissions values in the table above include fugitive methane emissions in MtCO₂ equivalent units. However, only total CO₂ figures are factored into the calculation of an entity’s percentage of global fossil fuel and cement emissions.
Top 10 most polluting state-owned entities
State-owned companies have been responsible for the second-highest volume of emissions since 2016, with a cumulative total of about 95 gigatons of CO2 discharged into the atmosphere. Nearly 5% of global emissions were attributable to Saudi Aramco, over 3% to Gazprom, and 3% to Coal India.
Source: The Carbon Majors Database: Launch Report
Most polluting Carbon Majors entities from 2016 to 2022
In the last 20 years, nation-states have generated more than one-third of global CO2 emissions, surpassing the output of state- and investor-owned companies.
Source: The Carbon Majors Database: Launch Report
Experts are pushing for stronger national and international initiatives to reduce CO2 emissions such as the Fossil Fuel Non-proliferation Treaty which is an initiative that calls for a global mechanism to phase out fossil fuels quickly and fairly.
Final word
A handful of large private and state-owned companies and nation-states are responsible for a high percentage of global greenhouse gas emissions. The latest study reveals how much our economy and civilizations rely on fossil fuels. The study’s data makes a strong case for immediate action and a reconsideration of the ways in which nations prioritize corporate profits over the health of the planet. Stricter laws and international cooperation are vital to manage and reduce the environmental threats that these carbon giants pose.
