A recent report from the Carbon Majors Database highlights that a select group of 57 companies were responsible for 80 percent of global carbon dioxide emissions between 2016 and 2022. ExxonMobil, a leading U.S. company, contributed 1.4 percent of all global emissions and has set net zero emissions targets. Despite commitments made in the 2015 Paris Agreement to reduce greenhouse gas emissions, 58 out of 100 state- and investor-owned companies in the database have actually increased their production.
The International Energy Agency has reported a significant eight percent increase in coal consumption over the past seven years, reaching a record high of 8.3 billion tons. State-owned companies like Coal India, Russia’s Gazprom, and Saudi Aramco are among the top carbon dioxide producers globally.
It’s clear that more action is needed to curb emissions and shift towards cleaner energy sources to combat climate change effectively. The findings of this report shed light on the role that major companies play in contributing to global emissions, emphasizing the need for sustainable practices and policies moving forward.
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