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Just 100 companies responsible for 71% of greenhouse gas emissions, report says

Just 100 companies responsible for 71% of greenhouse gas emissions, report says
The most polluting investor-owned companies on the list are ExxonMobil, Shell, BP and Chevron

The Carbon Majors Report, from the Carbon Disclosure Project, found that just 25 of those companies are the source of more than half of greenhouse gas emissions since 1988 – the year the Intergovernmental Panel on Climate Change was established.

China’s coal industry, which is dominated by a collection of state-owned or managed firms, has emitted an estimated 14.3 per cent of the world’s industrial greenhouse gases since 1988. The report takes entities these together, making them by far the biggest contributor to man-made climate change. Saudi Aramco is next on the list, having contributed 4.5 per cent, followed by Gazprom with 3.9 per cent.

If fossil fuels continue to be extracted at the same pace as between 1988 and 2017, global average temperatures would soar by 4C by the end of the century, according to the report.

CDP urges investors in publicly traded fossil fuel companies to exert pressure on those firms by both private dialogue and public shareholder resolutions. Public companies are responsible for a fifth of global industrial greenhouse gas emissions, meaning that investors can have significant influence on climate change, the report says.

Investors themselves face risks from the continued backing of fossil fuels and should ensure that companies analyse the effect of climate change scenarios on their business as well as creating transition plans for a low-carbon economy and investing in new technologies, CPD says.

The organisation, which is funded by private benefactors, governments and companies compiled its list mostly using publicly available data, attributing all the fossil fuels burned in industry to the producers that originally extracted them.

“Our purpose is not to name and shame firms, our purpose is to provide transparency and call attention to the quite extraordinary fact that just 100 companies played a crucial role in the problem,” said Pedro Faria, technical director of the Carbon Majors Database, which collected the information for the report. “It’s obvious they have a share of responsibility in the solution.”

Plummeting price of solar electricity increases pressure on fossil fuel companies Shutterstock

By: Chapman



Carbon Majors Report 2017

Link to full report: Carbon-Majors-Report-2017

CDP Report | July 2017 Author: Dr. Paul Griffin

The Carbon Majors Database brings a fresh perspective to global greenhouse gas (GHG) emissions by attributing them to companies.
Introducing the Carbon Majors Database
The Carbon Majors Database in its original form was completed in 2013 by Richard Heede, Director of the Climate Accountability Institute (CAI). CDP began its relationship with the CAI in 2014 and is committed to keeping the Database securely stored, updated, and accessible to all stakeholders. CDP has also been growing the sample of companies contained within the Database, which presently consists of:
100 extant1 fossil fuel producers (‘Carbon Majors’): 41 public2 investor-owned companies; 16 private investor-owned companies; 36 stateowned companies; and 7 state producers3.
923 gigatonnes of carbon dioxide-equivalent4 (GtCO2e) from direct operational and productrelated carbon dioxide and methane emissions (1854-2015), representing over half (52%5) of global industrial GHG since the dawn of the industrial revolution (1751).
A wider ‘2015 Sample’ of 224 companies, representing 72% of annual global industrial GHG emissions in 2015.
Direct operational emissions (Scope 16) and emissions from the use of sold products (Scope 3: Category 11) are attributed to the extraction and production of oil, gas, and coal. Scope 1 emissions arise from the self-consumption of fuel, flaring, and venting or fugitive releases of methane.
Scope 3 emissions account for 90% of total company emissions and result from the downstream combustion of coal, oil, and gas for energy purposes. A small fraction of fossil fuel production is used in non-energy applications which sequester carbon.
Emissions of this scale have traditionally been collected and accounted from the national-level by organizations such as the International Energy Agency (IEA). This is the first and only database containing global-scale emissions, past and present, at the company-level.
Alongside this report, CDP have released a dataset7, extracted from the Database, of emissions from all 100 producers over the period 1988-2015 and the top 100 companies of the 2015 Sample.


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