environment
Half of world’s CO2 emissions come from just 32 fossil fuel firms, study shows
Critics accuse leading firms of sabotaging climate action but say data increasingly being used to hold them to account
TL;DR
- 32 fossil fuel companies caused half of global carbon emissions in 2024.
- Saudi Aramco was the largest state-controlled polluter; ExxonMobil was the largest investor-owned polluter.
- 17 of the top 20 emitters were state-owned, from countries opposing a fossil fuel phaseout.
- Emissions must fall 45% by 2030 to meet the Paris Agreement's 1.5C goal, a target now considered impossible.
- Emissions are concentrating among a shrinking group of high-emitting producers, despite overall production growth.
- Recent mergers include ExxonMobil acquiring Pioneer Natural Resources and Chevron acquiring Hess.
- Emissions data has been used to link companies to heatwaves and attribute economic losses.
- The data has supported legal cases and climate superfund laws.
- International courts are increasingly connecting fossil fuel production to climate destruction, demanding phaseout and payment.