Bronte Wells
The climate crisis is largely driven by the actions of just a few companies. Research has shown that 20 fossil fuel companies are responsible for a third of all carbon emissions, with 12 of these being state-owned. The leading state-owned polluter, Saudi Aramco, has produced 4.38% of all carbon dioxide and methane since 1965. The top 100 companies are responsible for 71% of global GHG emissions. The largest corporate contributors to global warming are power plants that burn coal and/or gas. The James H. Miller Jr. Power Plant in Quinton, Alabama, is the number one greenhouse gas polluter in the US.
| Characteristics | Values |
|---|---|
| Number of companies responsible for 71% of global GHG emissions | 100 |
| Number of companies responsible for 35% of all carbon dioxide worldwide | 20 |
| Leading state-owned polluter | Saudi Aramco |
| Saudi Aramco's contribution to global carbon dioxide and methane since 1965 | 4.38% |
| Number of companies responsible for a third of all carbon emissions | 20 |
| Number of state-owned companies in the top 20 companies | 12 |
| Total emissions of the top 20 companies since 1965 | 480 billion tonnes |
| Most polluting car type surveyed in 2017 | 2011-2020 Jeep Grand Cherokee |
| Country that emitted the most greenhouse gases in June 2023 | China |
| Country that emitted the second-most greenhouse gases in June 2023 | The United States |
| Country that emitted the third-most greenhouse gases in June 2023 | India |
| Number of top 50 polluters that are power plants | 45 |
| The United States' most recent emissions before April 2023 | Oil and gas |
| The United States' emissions from oil and gas sources before April 2023 | 6,001 million tonnes CO2 |
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What You'll Learn
The 20 biggest corporate polluters
The 20 most polluting companies in the world are all in the fossil fuel industry and contribute 35% of all carbon dioxide worldwide. These 20 companies have contributed to 480 billion tonnes of carbon dioxide equivalent since 1965, with 12 of them being state-owned and responsible for 20% of emissions in the same period. The leading state-owned polluter is Saudi Aramco, which has produced 4.38% of the global total on its own.
The research by Richard Heede at the Climate Accountability Institute in the US aims to hold accountable those companies most responsible for carbon emissions and shift public and political debate away from individual responsibility. Heede argues that these companies have substantially driven the climate emergency and delayed global action for decades.
Michael Mann, a leading climate scientist, has called on politicians to take urgent measures to rein in the activities of fossil fuel companies. He highlights the moral failing of political systems that have allowed a small number of polluting interests to continue making record profits at the expense of the planet.
While the specific list of the 20 biggest corporate polluters is not readily available, it is clear that fossil fuel companies and power plants are among the worst offenders. The James H. Miller Jr. Power Plant in Quinton, Alabama, for example, is the number one greenhouse gas polluter in the US, emitting over 21 million metric tons of GHGs in 2022. Additionally, the ExxonMobil refinery in Baytown, Texas, produced 12.6 million metric tons of GHGs in the same year.
It is worth noting that some large corporations are supporting the transition to a carbon-free economy, with Apple, Facebook, Google, and Ikea leading the way.
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State-owned companies vs. investor-owned companies
A small number of fossil fuel companies are responsible for a large proportion of global carbon emissions. According to a 2024 report by the non-profit think tank InfluenceMap, just 57 companies accounted for 80% of global CO2 emissions between 2016 and 2022. These companies include Western petroleum multinationals like ExxonMobil, Shell, BP, and Chevron, as well as state-owned companies like Saudi Aramco, Gazprom, and Coal India.
State-owned companies and investor-owned companies are both significant contributors to global carbon emissions. According to one study, state-owned companies have been responsible for the second-highest volume of emissions since 2016, with a cumulative total of about 95 gigatons of CO2 emitted into the atmosphere. Saudi Aramco, a state-owned company, has produced 4.38% of global carbon dioxide and methane emissions since 1965, making it the leading state-owned polluter. Other state-owned companies with high emissions include Gazprom and Coal India.
Investor-owned companies are also major contributors to carbon emissions. According to the Carbon Majors Database report, 32% of emissions come from public investor-owned companies. ExxonMobil, Shell, BP, and Chevron are the investor-owned corporations with the highest historical greenhouse gas emissions, contributing almost 5% to global emissions. These companies have continued to invest in fossil fuel projects despite the risks posed by international action on climate change and the transition to renewable energy sources.
Investors in these companies have a responsibility to urge them to disclose climate risks and commit to decarbonization. As the energy sector moves towards renewable energy sources, investors who continue to invest in fossil fuels may find themselves stranded as the transition to a carbon-free economy gains momentum. Large corporations such as Apple, Facebook, Google, and Ikea are already leading the transition to a carbon-free economy by committing to obtaining energy from 100% renewable sources.
In summary, both state-owned and investor-owned companies are responsible for high levels of carbon emissions. However, the energy sector is changing rapidly, and investors must recognize the risks associated with continuing to invest in fossil fuels. By supporting the transition to renewable energy sources and holding fossil fuel companies accountable, investors can play a key role in tackling climate change and driving systemic change on carbon emissions.
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The impact of fossil fuels
The burning of fossil fuels releases large amounts of carbon dioxide, a greenhouse gas, into the Earth's atmosphere. This contributes to global warming and climate change. The average global temperature has already increased by 1°C, and global temperatures passed the critical 1.5°C milestone for the first time in 2024. Warming above 1.5°C risks further sea level rise, extreme weather events, biodiversity loss, species extinction, food scarcity, and worsening health and poverty for millions worldwide.
Fossil fuel-powered vehicles, such as cars, trucks, and boats, are major contributors to poisonous carbon monoxide and nitrogen oxide emissions. These emissions produce smog on hot days and lead to respiratory illnesses from sustained exposure. Additionally, the burning of fossil fuels releases toxic airborne particulate matter, which can cause asthma, cancer, heart disease, and premature death. Globally, fossil fuel pollution is responsible for one in five deaths, with 350,000 premature deaths in the United States in 2018 attributed to fossil fuel-related pollution.
The extraction and transportation of fossil fuels also have significant environmental and health impacts. Mining operations, for example, can release giant carbon stores held naturally in the wild, contributing to global warming. Strip mining in sensitive areas, such as Canada's boreal forest, can have particularly detrimental consequences. Additionally, the combustion of additives found in gasoline, such as benzene and formaldehyde, produces cancer-causing ultra-fine particles and aromatic hydrocarbons.
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The role of governments
Governments have a crucial role to play in tackling pollution and mitigating its harmful effects. As stewards of public welfare, they have the power to enforce laws and regulations that hold companies accountable for their environmental impact. By establishing and enforcing strict environmental standards, governments can compel industries and individuals to prioritise sustainability and reduce their carbon footprint.
Secondly, governments can drive transformative change by encouraging responsible practices across all sectors. This includes providing incentives for companies to transition to renewable energy sources and supporting the development of innovative, environmentally friendly technologies. A gradual approach to implementing environmental reforms allows companies and individuals to adjust their practices without causing significant disruptions.
Additionally, governments can play a crucial role in raising awareness about environmental issues and educating the public about the impact of pollution on their lives. By involving the public in the environmental governance system, governments can empower them to hold industries and each other accountable for their actions. This can be achieved through education, publicity, mobilisation, and incentives.
Finally, governments can work together on a global scale to address pollution. The UN Environment Assembly, for example, brings together world leaders to discuss and commit to taking urgent action against pollution. By collaborating and sharing best practices, governments can collectively strive towards a pollution-free planet.
In conclusion, the role of governments in tackling pollution is essential and far-reaching. Through regulation, enforcement, education, and international cooperation, governments can drive transformative change, hold industries accountable, and foster a sustainable future for current and future generations.
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The future of energy
It is important to note that the responsibility for these emissions lies with the companies extracting and producing fossil fuels, rather than solely with consumers. Despite awareness of the environmental impact of fossil fuels, these companies have continued to expand their operations, hindering progress towards a low-carbon future.
To address this issue, there is a growing trend of large corporations supporting the transition to a carbon-free economy. Companies like Apple, Facebook, Google, and Ikea are leading the way by committing to obtaining energy from 100% renewable sources. This shift is crucial, as continued investment in fossil fuels poses risks for investors, and the planet. If the extraction of fossil fuels continues at the current rate, the global average temperature will rise by up to 4°C, leading to potential species extinction and threats to world food production.
Additionally, the energy sector must focus on reducing emissions from electricity generation, buildings, transportation, manufacturing, and construction. While emission growth has slowed down globally, more needs to be done to decouple economic growth from carbon emissions. The COVID-19 pandemic provided a glimpse of this possibility, as global emissions decreased by 4.9% in 2020 due to reduced economic activity. However, emissions quickly rebounded in 2021, demonstrating the urgent need for increased climate action and a shift towards sustainable energy sources.
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