More than half of global fossil fuel-related CO2 emissions linked to 36 companies

• A new report by the climate think tank InfluenceMap found that state-owned companies were responsible for 52% of global emissions in 2023, with just 36 producers contributing over half of the world’s fossil fuel-linked CO2 output. Out of the top 20 global emitters, 16 were state-owned entities.
• The top five polluting state-owned firms were linked to about 17.5% of global fossil fuel CO2 emissions, while the five highest emitting investor-owned companies accounted for nearly 5% of worldwide fossil fuel CO2 emissions in 2023.
• According to the report, many of the world’s largest emitters increased their emissions in 2023 compared to the previous year.

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A recent analysis has identified that a small group of companies are responsible for a significant portion of the world’s greenhouse gas emissions, with state-owned firms dominating the list of top polluters. These findings, published in the latest “Carbon Majors Database” report by the London-based climate think tank InfluenceMap, aim to raise awareness about the role of these entities in global emissions and potential accountability measures.

“Global GHG emissions continue to rise, with over half of all fossil CO2 [carbon dioxide] emissions coming from just 36 companies, as the latest InfluenceMap findings reveal,” Johan Rockström, director of the Potsdam Institute for Climate Impact Research, said. “While a few profit-driven corporations continue to expand fossil fuel infrastructure, climate disasters are hitting hardest in regions where people have contributed the least, damaging the lives of millions and pushing us closer to unmanageable tipping points.”

What are the report’s key findings?

The report shows that state-owned companies accounted for 52% of global emissions in 2023. In total, just 36 producers in the oil, gas, coal, and cement industries were responsible for more than half of the world’s fossil fuel-linked CO2 output.

The database traces emissions from 1854 through 2023 and indicates that 16 out of the top 20 global emitters are state-owned entities.

Emissions output of state-owned companies

Among the top state-owned emitters, Saudi Aramco led the list, accounting for 4.38% of global CO2 emissions in 2023. Coal India was the second-biggest emitter of fossil fuel-related CO2, trailed by Chinese firms CHN Energy and the Jinneng Group, a coal and energy company, respectively. The top five emitting state-owned firms were linked to about 17.5% of global fossil fuel CO2 emissions.

Emissions output of investor-owned companies

For investor-owned firms, ExxonMobil was the largest emitter, contributing 1.28% of global emissions, followed by Shell and Chevron at about 1% each. The top five emitting investor-owned businesses were responsible for nearly 5% of worldwide fossil fuel CO2 emissions in 2023.

Other findings

The analysis also highlighted that many of the world’s largest emitters increased their emissions in 2023 compared to the previous year, with the cement industry being a significant contributor due to its energy-intensive processes. Additionally, Chinese companies were noted as the largest national contributors to fossil fuel-related CO2 emissions, accounting for 23% of the global total in 2023.