BALTIMORE (WJZ) — Roughly 100 companies have been causing about 71 percent of the world’s greenhouse gas emissions, a new report shows.
The companies, led by Saudi Aramco, the Russian gas company Gazprom and Exxon Mobil, respectively, have emitted nearly 923 billion tons of carbon dioxide-equivalents between 1988 and 2016, according to the climate change nonprofit CDP and Climate Accountability Institute report.
The top 10 also features Mexican oil company Pemex, the National Iranian Oil Corporation and state-owned coal producers in China and India. Within the top 10, only Exxon Mobil and Royal Dutch Shell are owned by a majority of private investors, the report says.
Fossil fuel burning has increased substantially throughout the past 30 years as China and India accelerated the process of industrialization that the West began in the 18th century. Human activity resulted in more emissions during the past 30 years than previous 150, according to CDP.
But despite the rising use of renewable energy sources like solar and wind, governments and companies worldwide seem to be struggling to transition away from fossil fuel use.
“Fossil fuel companies are also going to have to demonstrate leadership as part of this transition,” writes CDP Technical Director Pedro Faria. “They owe it to the millions of clients they serve that are already feeling the effects of climate change, and to the many millions more that require energy for the comfort of their daily lives but are looking for alternative to their products.”
The report’s purpose is to highlight how much companies, and their investors, contribute to climate change. The list of all 100 companies can be found here.