Kiera Jefferson
A small number of fossil fuel producers and their investors could be responsible for climate change. A 2021 report by the Carbon Disclosure Project (CDP) found that 100 companies were responsible for 71% of global greenhouse gas emissions since 1988. ExxonMobil, Shell, BP, and Chevron are among the highest-emitting investor-owned companies. A 2019 report by the Guardian revealed 20 fossil fuel companies that could be directly linked to over a third of all greenhouse gas emissions. These companies have spent millions lobbying to delay, control, or block policies addressing climate change. A 2024 report by the Climate Accountability Institute found that 20 companies contributed to 35% of all energy-related carbon dioxide and methane worldwide, totalling 480 billion tonnes of carbon dioxide since 1965. The leading state-owned polluter is Saudi Aramco, which produced 4.38% of the global total on its own. Coca-Cola, PepsiCo, and Nestle are among the top contributors to plastic pollution.
| Characteristics | Values |
|---|---|
| Number of companies responsible for most pollution | 20-100 |
| Percentage of global emissions caused by these companies | 35%-80% |
| Carbon dioxide equivalent emitted by these companies since 1965 | 480 billion tonnes |
| Percentage of emissions caused by state-owned companies | 33% |
| Percentage of emissions caused by nation-states | 36% |
| Percentage of emissions caused by public investor-owned companies | 32% |
| Leading state-owned polluter | Saudi Aramco |
| Percentage of global emissions caused by Saudi Aramco | 4.38% |
| Fossil fuel companies in the list | ExxonMobil, Shell, BP, Chevron |
| Companies that spent $200 million lobbying to delay, control or block policies addressing climate change | The five biggest oil and gas companies |
| Companies with programs in place to recover plastic waste from the environment | Nestlé, PepsiCo, Altria |
| Largest contributor to plastic pollution | Coca-Cola |
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What You'll Learn
Fossil fuel companies are the most polluting sector
The top polluting companies are primarily fossil fuel producers, with ExxonMobil, Shell, BP, and Chevron identified as among the highest emitting investor-owned companies since 1988. These companies have continued to expand their operations despite being aware of the devastating impact of their industry on the planet. They have also spent millions lobbying to delay, control, or block policies addressing climate change. The future of the oil industry is uncertain, and investors are faced with a choice: manage the industry's decline or hold on and hope for the best.
The energy sector is changing, and the transition to renewable energy is accelerating. More and more large corporations are supporting the shift to a carbon-free economy, with companies like Apple, Facebook, Google, and Ikea committing to 100% renewable power. Oil and gas companies are also starting to make green investments, with Shell investing $1.7 billion in a renewables arm in 2015 and Chevron investing in carbon dioxide management. However, the pace of change and the sums involved are often not enough to make a significant impact.
While fossil fuel companies are the most polluting sector, it is important to recognize that the responsibility for tackling climate change lies not only with these companies but also with investors, governments, and individuals. By working together and prioritizing sustainable practices, we can address the climate crisis and create a greener future for generations to come.
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The top 20 companies emit 480 billion tonnes of CO2
The top 20 polluting companies in the world have been revealed by researchers. These 20 companies have contributed to 35% of all energy-related carbon dioxide and methane worldwide, totalling 480 billion tonnes of carbon dioxide equivalent (GtCO2e) since 1965.
The research, conducted by Richard Heede at the Climate Accountability Institute in the US, exposes the fossil fuel companies perpetuating the climate crisis. Some of these companies have accelerated their extraction of coal, oil, and gas despite the devastating impact on the planet and humanity. The top 20 climate culprits include Saudi Aramco, Chevron, and Gazprom, with the former being the highest emitter at 59.26 billion tonnes.
The public and political debate should focus more on holding these companies accountable, as per Heede. Leading climate specialist Michael Mann laments the tragedy of the climate crisis, where the degradation of the planet is allowed to occur for the profits of a few polluting interests. This moral failing of our political system has severe consequences, with close to half the rise in global temperature and a third of the sea level rise between 1880 and 2010 attributed to CO2 and methane emissions from the 90 biggest industrial carbon producers.
Furthermore, many of the top polluters spend millions lobbying governments and portraying themselves as environmentally responsible. The five biggest oil and gas companies spent $200 million on lobbying to delay, control, or block policies addressing climate change. Heede emphasizes the significant moral, financial, and legal obligations of these companies in tackling the climate crisis, urging investors to move away from fossil fuels.
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ExxonMobil, Shell, BP, and Chevron are the highest emitters
A 2017 report by the Carbon Disclosure Project (CDP) revealed that just 100 companies were responsible for 71% of global greenhouse gas emissions since 1988. Of these, 25 corporate and state-owned entities accounted for over half of global industrial emissions. ExxonMobil, Shell, BP, and Chevron were identified as among the highest emitting investor-owned companies.
ExxonMobil, in particular, has faced heavy criticism for its environmental record. While the company has explored carbon capture and storage, critics argue that the pace of change is insufficient. Similarly, BP has stated its determination to be part of the solution for climate change, investing in renewables and low-carbon innovation. However, some argue that these efforts are not enough to drive the necessary systemic change.
Shell, another major emitter, has been criticised for its poor emissions disclosure. In 2009, the company was rated 1.15 out of 5 on its carbon disclosures, raising questions about its internal organisation. However, Shell pointed to its broader set of criteria by the Carbon Disclosure Project, ranking 68 out of 100 compared to 74 for Chevron and 64 for BP.
While these companies have increasingly discussed clean energy and pledged decarbonization strategies, their actions have not always aligned with their discourse. A study examining the behaviour of ExxonMobil, BP, Shell, and Chevron over a decade found that their investments in clean energy were insignificant compared to their dependence on fossil fuels. As a result, accusations of "greenwashing" have been levelled against these companies, highlighting the need for objective evaluations of their decarbonization efforts.
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100 companies are responsible for 71% of GHG emissions
A 2017 report by the Climate Accountability Institute, a non-profit advocacy group, and the Carbon Disclosure Project, a non-profit charity, revealed that 100 companies are responsible for 71% of global industrial greenhouse gas emissions. The report, titled "The Carbon Majors Database", highlights the role of companies and investors in tackling climate change. Since 1988, over half of the world's industrial emissions can be traced back to just 25 state-owned companies and entities, with 32% of emissions coming from public investor-owned companies.
The report identifies ExxonMobil, Shell, BP, and Chevron as among the highest emitting investor-owned companies since 1988. These companies have faced criticism for their environmental records and have been urged to disclose their climate risks. In response, some oil and gas companies have started to invest in renewable energy sources and carbon capture and storage technologies. However, critics argue that the sums involved and the pace of change are not enough to combat climate change effectively.
The Carbon Majors Database report names ten companies that emit the most carbon dioxide into the atmosphere. While the report does not disclose the names of these companies, it is speculated that they are among the top polluters in the world, which include state-owned and multinational companies. These top polluters have continued to expand their operations, despite being aware of the devastating impact of their industry on the planet.
The public and political debate surrounding climate change has largely focused on individual responsibility. However, experts argue that the emphasis should be on holding companies and carbon producers accountable for their emissions and urging them to transition to a carbon-free economy. More and more large corporations are supporting this transition, with companies like Apple, Facebook, Google, and Ikea leading the way by committing to obtaining energy from 100% renewable sources.
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Oil, gas, and coal companies lobby against climate policies
Oil, gas, and coal companies have been criticized for their role in contributing to climate change and their efforts to lobby against climate policies. According to various reports and studies, a small number of fossil fuel producers and their investors are responsible for a significant portion of global greenhouse gas emissions. For example, a report by the Carbon Disclosure Project (CDP) found that just 100 companies have been the source of more than 70% of the world's greenhouse gas emissions since 1988. Among these companies are ExxonMobil, Shell, BP, and Chevron, which have been identified as some of the highest emitting investor-owned companies.
Despite facing criticism and calls for change, oil, gas, and coal companies have engaged in lobbying efforts to protect their interests. The five biggest oil and gas companies, including ExxonMobil, Chevron, BP, and Shell, have spent nearly $200 million lobbying to delay, control, or block policies addressing climate change. This has included presenting themselves as eco-friendly and supporting voluntary measures while simultaneously expanding their fossil fuel businesses and opposing meaningful legislation. For instance, these companies have used social media to promote the benefits of increased fossil fuel production and have engaged in "greenwashing," where they highlight investments in biofuels and hydrogen without significantly reducing their reliance on fossil fuels.
The lobbying efforts of oil, gas, and coal companies have had a significant impact on policy-making. Following the Paris climate agreement in 2015, large integrated oil and gas companies formed groups like the Oil and Gas Climate Initiative. However, there is a perceived gap between their words and actions, with reports suggesting that their branding campaigns and support for voluntary measures do not reflect their massive investments in expanding fossil fuel production. This has hindered governments' efforts to implement policies to meet climate targets and limit global warming.
Additionally, oil, gas, and coal companies have been accused of spreading disinformation and misleading the public about climate change. For example, ExxonMobil has been criticized for its climate communications, with studies revealing that the company has engaged in climate denial and propagated subtle forms of propaganda to stop action on climate change. The fossil fuel industry as a whole has contributed to the erosion of democracy and the corruption of citizens' understanding of the climate crisis by propagating deception, misinformation, and fabricated narratives. This has undermined societies' ability to reach a democratic consensus and hampered climate action proposals.
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Frequently asked questions
The top six polluters are all fossil fuel companies: Saudi Aramco, ExxonMobil, Shell, BP, Chevron, and an unnamed sixth company.
The top 20 polluting companies are responsible for 35% of all carbon dioxide worldwide. The top 57 companies accounted for 80% of the world's CO2 emissions in the last 6 years.
The fossil fuels sector is the most polluting industry in the world.
Investors should move their investments out of fossil fuels and into more sustainable industries. Stricter laws and international cooperation are also vital to manage and reduce the environmental threats posed by these carbon giants.
