A recent report reveals that just 32 fossil fuel companies are responsible for half of the world’s carbon dioxide emissions, with the numbers decreasing from 36 last year. Notably, Saudi Aramco is the largest state-owned polluter, while ExxonMobil ranks as the largest investor-owned polluter. Critics accuse these companies of hindering climate action, and emissions data is increasingly used to hold them accountable.
Seventeen of the top 20 emitters are state-owned, predominantly from countries like Saudi Arabia, Russia, and China, which resist fossil fuel phase-out efforts proposed at the recent COP30 UN climate summit. Despite record levels of CO2 emissions returning post-pandemic, achieving the Paris Agreement’s goal of limiting warming to 1.5°C is deemed impossible without a 45% emissions cut by 2030.
The report emphasizes the concentration of emissions among a few high emitters while production continues to increase. Recent oil sector mergers, like ExxonMobil’s acquisition of Pioneer Natural Resources, highlight ongoing consolidation. Experts assert that these companies block climate initiatives and undermine government efforts, with international initiatives aiming to transition away from fossil fuels gaining traction.
Data from the Carbon Majors database links emissions to severe climate impacts, enabling accountability in climate-related lawsuits and legislation, such as the Climate Superfund laws in New York and Vermont. Legal frameworks are increasingly connecting fossil fuel production to climate destruction, emphasizing the need for accountability and a phase-out of fossil fuels. Saudi Aramco and ExxonMobil did not provide comments on the findings.
Source link
