One hundred companies have been responsible since 1988 for 71% of global greenhouse gas emissions. This data comes from an inaugural report published by the Carbon Disclosure Project (CDP), a non-profit organization. The rapid expansion of the fossil fuel industry over the past 28 years is particularly targeted.
100 companies account for 71% of global greenhouse gas emissions
Greenhouse gas (GHG) emissions are generally assessed by country, with China, the United States and India being the largest producers of emissions in the world. But the new report takes a different approach tracing emissions to very specific entities, the world’s main carbon polluters.
The investigators here focused on emissions (carbon and methane) from the industrial activity responsible for the emission of more than 920 billion tonnes of greenhouse gases into the atmosphere since 1988, when the intergovernmental experts on climate change has been established. According to the report, in total, this astronomical figure represents more than half of all global emissions since the beginning of the industrial revolution in 1751.
It should be noted in passing that 25 companies and public entities produced more than half of all industrial emissions in the period between 1988 and 2015. The main issuer among these 25 entities is none other than the Chinese coal industry, followed by Saudi. Aramco, a Saudi oil company, and Gazprom, a Russian public limited company that today dominates the global gas market. Other polluters include ExxonMobil, Shell, BP and Chevron, which are responsible for most industrial greenhouse gases.
The purpose of this report is not to point the finger at the world’s poor, but to provide investors with a complete breakdown of the carbon emissions associated with their financial ties in the fossil fuel sector. “By having these figures in hand, we give a much clearer picture of the main influencers when it comes to applying the objectives set out in the Paris climate agreement,” the report notes. “Climate action is no longer limited to the direction given by policy makers, it is now a social movement driven by both economic and ethical imperatives and supported by increasing amounts of data. “
“If the fossil fuel extraction trend continues over the next 28 years at the pace of the previous 28 years, global average temperatures could rise 4 ° C above pre-industrial levels by the end of the decade.” century. These changes could result in a climate that no human has ever known, threatening our food security and making entire regions inhospitable to life. Fossil fuel companies will also need to show leadership in this transition, “reads the report.