The study examines the period of seven years that followed the Paris Agreement.
Although the previous year was the warmest on record and the Earth is on the verge of experiencing a global warming of 2.7 degrees, the leading producers of fossil fuels and cement continue to demonstrate a disregard for climate change and actively contribute to the worsening of the situation. One hundred and fifty firms were determined to be accountable for eighty percent of the worldwide carbon dioxide emissions between the years 2016 and 2022, according to a recent analysis published by the Carbon Majors Database. Nation-states were responsible for 38 percent of the total emissions that occurred during this time period, while state-owned businesses were responsible for 37 percent, and investor-owned companies were responsible for 25 percent.
A commitment to reduce emissions of greenhouse gases was made with the adoption of the Paris Agreement in 2015 by almost 200 parties. Although the Climate Accountability Institute launched Carbon Majors in 2013 with the intention of holding fossil fuel producers accountable, 58 of the 100 state- and investor-owned enterprises that are included in the Carbon Majors Database have grown their production in the years that have passed since the database’s inception. InfluenceMap is the organisation that hosts the database. This figure reflects producers all over the world, with 87 percent of those evaluated being located in Asia, 57 percent in Europe, and 43 percent in North America.
At the same time, it is not entirely evident that things are gradually turning around. Over the course of seven years, the International Energy Agency discovered that the consumption of coal reached a record high of 8.3 billion tonnes, representing an increase of eight percent. Coal India, which is owned by the government, is identified as one of the top three generators of carbon dioxide in the report. The energy business Gazprom, which is owned by the Russian government, and Saudi Aramco, which is also owned by the Saudi government, rounded out the trio of worst offenders.
Among the firms based in the United States, Exxon Mobil was at the top of the list, producing 1.4 percent of the total carbon dioxide emissions worldwide. The revenues of these corporations have reached billions of dollars, despite the fact that they have denied the existence of the crisis and have delayed and obstructed climate policies. “While at the same time they are continuing to invest in more fossil fuel extraction, they are spending millions of dollars on advertising campaigns about being a part of a sustainable solution,” said Tzeporah Berman, who is the International Programme Director of Stand.earth and the Chair of the Fossil Fuel Non-Proliferation Treaty, in a statement. “These findings emphasise that, more than ever, we need our governments to stand up to these companies, and we need new international cooperation through a Fossil Fuel Treaty to end the expansion of fossil fuels and ensure a truly just transition.”