Just 36 companies account for 50% of global CO2 emissions, report reveals

Only 36 firms contribute to 50% of world CO2 emissions, dominated by state and investor-owned entities.

: An analysis using the Carbon Majors database identified 36 companies responsible for over half of global CO2 emissions in 2023. The list includes both state-owned and investor-owned entities, with significant contributions from Chinese companies. Cement producers like Holcim and Heidelberg showed notably high relative increases in emissions during that year. The findings emphasize the ongoing challenge of achieving net-zero emissions by 2050 amid increasing emissions.

A recent analysis of emissions data from the Carbon Majors database underscored a disturbing truth: just 36 companies are responsible for over 50% of global CO2 emissions. Using data from 2023, the analysis identified a rise in emissions from these major oil, gas, coal, and cement producers compared to the previous year, despite ongoing climate warnings. The Carbon Majors database is a tool that records greenhouse gas emissions from fossil fuel companies, providing pivotal information for understanding global pollution sources.

The database revealed disquieting details: 93 companies, including 50 investor-owned firms, increased their emissions amid international efforts to combat global warming. State-owned enterprises are predominant in global emissions, with 16 of the top 20 state-owned emitters contributing 52% of emissions. Notably, Chinese firms accounted for 23% of global fossil fuel and cement-related CO2 emissions, maintaining leadership from the prior year.

Although rising emissions from cement companies were particularly notable, four of the top emitters in this category – Holcim Group, Heidelberg Materials, UltraTech Cement, and CRH – showed significant increase. Cement manufacturing is energy-intensive, creating substantial CO2 output, emphasizing an urgent need for improved sustainability measures in this sector.

State-owned giants like Saudi Aramco, Coal India, CHN Energy, National Iranian Oil Co., and Jinneng Group collectively account for 17.4% of global CO2 emissions. On the private side, ExxonMobil, Chevron, Shell, TotalEnergies, and BP contribute to 4.9% of total emissions. Unearthing these statistics illustrates the heavy responsibility resting on these firms to lead in emission reduction efforts.

Data spanning from 1854 to 2023 indicates that 67.5% of all human-produced CO2 emissions since the Industrial Revolution come from just 180 corporate and state entities. Despite the clear environmental threats, the International Energy Agency has stated that new fossil fuel projects commenced post-2021 hinder the achievement of net-zero emissions by 2050, highlighting an urgent call for a concrete and transformative shift in industrial practices.

Sources: Carbon Majors database, International Energy Agency

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