About 100 companies have been responsible for about 71% of the world’s greenhouse gas emissions.
That’s according to a new report from climate change non-profit CDP in conjunction with the Climate Accountability Institute. The report hopes to highlight the role such companies, and their investors, play in Climate Change.
These companies, led by Saudi Aramco, Russian gas giant Gazprom, and Exxon Mobil, have produced about 923 billion tonnes of carbon dioxide-equivalents between 1988 to 2016. State-owned coal producers in China and India also feature in the top 10, as do Mexican oil producer Pemex and the National Iranian Oil Corporation. Of the top 10, only Exxon Mobil and Royal Dutch Shell are majority-owned by private investors (although CDP has, for some reason, listed a bundle of privately-held companies into what it calls “Russia Coal” at no. 7).
The burning of fossil fuels has increased by orders of magnitude in the last 30 years as China and India have joined the process of industrialization that the West started in the middle of the 18th century. More greenhouse gases were emitted from human activity in the last 30 years than in the previous 150, according to CDP’s research.