The latest update to the Carbon Majors database, produced by InfluenceMap, has revealed a staggering statistic: just 36 companies are responsible for more than half of global carbon emissions. This data, which traces 33.9 gigatons of carbon dioxide equivalent (GtCO2e) emissions to 169 active companies in 2023, paints a stark picture of the environmental impact of a select few corporations. These emissions represent a significant portion of total carbon emissions from fossil fuels and cement, totaling 78.4%.
This revelation underscores the disproportionate contribution of a small number of companies to the global climate crisis. Johan Rockström, director of the Potsdam Institute for Climate Impact Research, highlighted the urgent need for action in response to these findings. “Global GHG emissions continue to rise, with over half of all fossil CO2 emissions coming from just 36 companies,” Rockström stated. “A global turnaround is not just urgent — it’s essential, and it must start with these key players.”
Coal and Cement Emissions
Coal emerged as the primary culprit in the latest emissions data, accounting for 41.1% of all emissions in the database for 2023. The report noted a steady increase in coal-related emissions since 2016, highlighting the ongoing reliance on this carbon-intensive energy source. Meanwhile, cement-related emissions experienced the largest rate of increase, rising by 6.5% compared to the previous year.
Despite widespread commitments to reduce emissions and combat climate change, the data revealed a troubling trend. While 73 entities demonstrated a decrease in emissions, 93 companies actually increased their emissions from 2022 to 2023. This discrepancy underscores the challenges of regulating emissions in a profit-driven corporate landscape.
State-Owned vs. Investor-Owned Companies
The data also shed light on the role of state-owned entities in the carbon emissions landscape. Among the top 20 emitters, 16 were state-owned companies, highlighting the significant impact of government-controlled enterprises on global emissions. The five highest state-owned entity emitters included industry giants like Saudi Aramco and Coal India, underlining the substantial carbon footprint of these corporations.
On the other hand, investor-owned companies also featured prominently on the list of highest emitters. Leading the pack were industry titans such as ExxonMobil, Chevron, and Shell. These companies, driven by profit motives, have a significant influence on global emissions and environmental policy.
The ramifications of these emissions are far-reaching. As The Guardian reported, if Saudi Aramco were a country, it would rank as the fourth-highest global polluter. Similarly, ExxonMobil’s emissions are comparable to the entire nation of Germany, underscoring the scale of the environmental impact generated by these corporations.
In conclusion, the Carbon Majors database provides a sobering reminder of the concentrated power and influence of a select group of companies in driving global carbon emissions. With calls for increased accountability and sustainable practices, the urgent need for action is clear. As Christiana Figueres, global climate leader, emphasized, a transition to a decarbonized economic system is imperative for the well-being of both people and the planet.
