More than half of the world’s greenhouse gas emissions in 2023 have been traced back to just 36 companies involved in fossil fuels and cement production, according to a recent report from the Carbon Majors database.
The report highlights a worrying trend, showing that emissions from the largest global oil, gas, coal, and cement companies have increased this year. Notably, 16 out of the 20 biggest polluters are state-owned enterprises.
The leading five state-owned emitters—Saudi Aramco, Coal India, CHN Energy, the National Iranian Oil Company, and Jinneng Group—are responsible for almost 20% of all global emissions. On the other hand, the top five investor-owned emitters, including ExxonMobil, Chevron, Shell, TotalEnergies, and BP, contribute about 5% of emissions.
Emmett Connaire, a senior analyst at Carbon Majors, pointed out the challenge of holding state-owned companies accountable for their emissions, as they operate under the direct control of national governments. In contrast, many legal actions related to climate change are being directed at private companies.
This report arrives at a time when nations are rolling back their climate commitments and fossil fuel producers are substantially increasing their production, nearly ten years after the Paris climate agreement aimed to curb emissions.
The findings are based on a comprehensive database that has traced emissions from production and burning of products from 180 major oil, gas, coal, and cement producers dating back to 1854. The data has empowered activists in legal actions against fossil fuel firms and has been instrumental in shaping climate policies, such as Vermont’s recent legislation, which aims to hold oil companies accountable for climate change damages.
Despite substantial advancements in renewable energy in China over the past year, the country continues to lead in emissions, with eight Chinese companies alone being responsible for 17% of global emissions. This is primarily due to ongoing expansion of coal, the largest source of emissions.
While emissions from coal and cement are on the rise, emissions from natural gas have actually dropped by nearly 4%, and oil emissions have remained steady. The largest increases in emissions have come from regions such as Australia, Asia, and North America, which saw jumps of 11%, 6%, and 3% respectively from 2022. In contrast, emissions in Europe decreased by 4%, while the Middle East saw a minimal increase of less than 1%.