It reports that only 36 companies account for half of global emissions

Let us know about free updates

Simply sign up for Climate Change Myft Digest and it will be delivered directly to your inbox.

According to a report from the Carbon Majors database, more than half of the world’s greenhouse gas emissions in 2023 can be linked to just 36 fossil fuels and cement producers.

The Climate Watch has found that emissions from the world’s largest producers of oil, gas, coal and cement rose in 2023, with state-owned businesses accounting for 16 of the top 20 emitters.

The top five state-owned emitters – Saudi Aramco, Cole India, CHN Energy, National Iranian oil company, Jinneng Group – accounted for almost a fifth of global emissions in 2023.

Emitters, owned by the top five investors, Exxonmobil, Chevron, Shell, Totalenergies and BP, account for 5% of their emissions.

Emmett Connaire, senior analyst at Carbon Majors, said many climate liability litigation around the world is coming against investor-owned companies.

“For state-owned enterprises, the Western government directly controls the nation-state, so it’s not possible to sue them for emissions,” Conail said.

The group’s report says the country will bounce back to climate commitments, with oil and gas producers double fossil fuels almost 10 years after the Paris Climate Agreement.

The findings of the report are based on a database that tracks the production and combustion emissions of the largest oil, gas, coal and cement producers from 1854 to 2023.

The organization’s data has been used by activists in lawsuits against fossil fuel producers and has helped shape climate law.

Vermont became the first US state to claim oil companies for climate damages, using data from the Carbon Majors database under the “Climate SuperFund” Act.

Despite the massive surge in China’s renewable energy over the past year, the company was contributing to more emissions in 2023 than any other country.

The group also found that in 2023, eight Chinese companies were responsible for 17% of global emissions. This is primarily due to the continued expansion of coal, a source of emissions.

In 2023, emissions from coal and cement producers increased, but natural gas emissions fell by nearly 4%, while emissions from oil companies remained stable.

Emissions have increased the highest in Australia, Asia and North America, with 11%, 6% and 3% respectively since 2022. In comparison, emissions fell by 4% in Europe and below 1% in the Middle East.