Ameer Randolph
Fossil fuel emissions are a critical contributor to global warming, with the combustion of these fuels releasing large amounts of carbon dioxide and other greenhouse gases into the atmosphere. The responsibility for these emissions lies with both the producers and consumers of fossil fuels. While the transportation sector is the largest source of direct greenhouse gas emissions, the industrial sector is the third-largest source, with emissions increasing significantly when indirect emissions from electricity use are included. In the US, about 74% of human-caused greenhouse gas emissions come from burning fossil fuels, and globally, 89% of CO2 emissions in 2018 were attributed to fossil fuels and industry. Notably, just 100 companies have been responsible for over 70% of global emissions since 1988, with 25 companies linked to over 50% of these emissions. These companies have continued to invest in production and delay legislative action, despite knowing the detrimental effects of their products on the climate.
| Characteristics | Values |
|---|---|
| Percentage of global emissions caused by fossil fuels | 89% of global CO2 emissions in 2018 |
| Top sources of emissions | Transportation, electricity production, industry |
| Industrial emissions as a source of direct emissions | Third largest source |
| Fossil fuel companies responsible for emissions | 100 companies responsible for 71% of emissions since 1988 |
| Fossil fuel companies taking action | Apple, Facebook, Google, Ikea, Volvo, Shell, Chevron, BP, ExxonMobil |
| Fossil fuel emissions reduction target | Halve emissions in 11 years to limit global warming to 1.5°C above pre-industrial levels |
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What You'll Learn
Fossil fuel emissions from industry
The burning of fossil fuels is a dominant cause of global warming and climate change. Fossil fuels include coal, oil, and natural gas, and when burned, they release carbon dioxide, a greenhouse gas, into the atmosphere. Greenhouse gases trap heat, causing global temperatures to rise. The average global temperature has already increased by 1°C, and warming above 1.5°C risks further sea-level rise, extreme weather, biodiversity loss, species extinction, and food scarcity.
In 2018, 89% of global CO2 emissions came from fossil fuels and industry. The industrial sector is the third-largest source of direct emissions. If indirect emissions from electricity use are included, the industrial sector accounts for a much larger share of greenhouse gas emissions. These indirect emissions come from powering industrial buildings and equipment, such as heating, ventilation, air conditioning, lighting, and machinery.
The transportation sector is the largest source of direct greenhouse gas emissions due to its near-complete dependence on petroleum fuels. Over 94% of the fuel used for transportation is petroleum-based, resulting in direct emissions. However, if indirect emissions from electricity end-use are allocated across sectors, the industrial sector's emissions become more significant.
A recent study by the Carbon Majors Report revealed that just 100 companies have been responsible for more than 70% of the world's greenhouse gas emissions since 1988. ExxonMobil, Shell, BP, and Chevron are among the highest-emitting investor-owned companies. State-owned companies also dominated global emissions in 2023, with Saudi Aramco as the highest-emitting company. These findings highlight the critical importance of decarbonizing industry and transitioning to renewable energy sources.
To meet the Paris Agreement goal of limiting global warming to 1.5°C, global carbon emissions must fall by 45% by 2030. Fossil fuel companies have a moral responsibility to address the impacts of their products and work towards systemic change. While some companies are investing in renewable initiatives, others continue to prioritize short-term profitability and delay legislative action. The future of the oil industry and the transition to renewable energy sources depend on the choices and actions of investors and companies alike.
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Fossil fuel emissions from transport
Fossil fuels are a major source of energy for the transportation sector, with over 94% of the fuel used being petroleum-based, including gasoline and diesel. This sector is the largest source of direct greenhouse gas emissions and the second-largest contributor when indirect emissions from electricity use are considered. Transport accounts for more than a third of CO2 emissions from end-use sectors and has seen an increase in emissions since 1990, particularly with the rebound in travel after the COVID-19 pandemic.
To address these emissions, various initiatives have been implemented. The US Departments of Energy and Transportation have outlined a framework for transport decarbonisation, and the EPA has proposed emission standards for light and heavy-duty vehicles to meet 2050 net-zero targets. The IEA's Net Zero Scenario aims for a 25% reduction in transport sector emissions by 2030, encouraging less carbon-intensive travel and more efficient technologies. The European Union's Green Deal Industrial Plan and Alternative Fuels Infrastructure Regulation also promote the transition to electric vehicles and low-emission fuels in aviation and maritime sectors.
International efforts are also underway to reduce emissions from aviation through the EPA and Federal Aviation Agency's collaboration with the ICAO on international carbon dioxide emission standards. Additionally, the Renewable Fuel Standard program aims to reduce greenhouse gas emissions and expand renewable fuel use, while the 2007 Energy Independence and Security Act mandates low greenhouse gas-emitting vehicles for federal agencies. The EPA and DOT have also set GHG emissions and fuel economy standards for cars, light trucks, and heavy-duty trucks, with projected significant emission reductions and cost savings.
While these initiatives are in place, the transportation sector's reliance on fossil fuels remains a critical challenge. Motorised transport on land, sea, and air continues to depend on internal combustion engines, contributing significantly to carbon dioxide and other greenhouse gas emissions. The transition to more sustainable options and the implementation of policies to encourage less carbon-intensive travel are essential to reducing the carbon intensity of all transport modes.
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Fossil fuel emissions from electricity production
Electricity generation is a major contributor to fossil fuel emissions. About 20% of final energy consumption is in the form of electricity, but the generation of electricity is responsible for over 40% of all energy-related emissions. Worldwide emissions of carbon dioxide (CO2) from burning fossil fuels for electricity total about 34 billion tonnes per year. In 2022, 60% of electricity in the US was generated from burning fossil fuels, mostly coal and natural gas.
The burning of fossil fuels for electricity generation is a significant contributor to the build-up of CO2 in the atmosphere, which is a major concern for the climate. Electricity generation from fossil fuels has environmental and health consequences. The transportation sector is the largest source of direct greenhouse gas emissions, and electricity is used for transport, so this is a large contributor to emissions.
Commercial and residential buildings also contribute to fossil fuel emissions from electricity production. Buildings use 75% of the electricity generated in the US, for heating, ventilation, air conditioning, lighting, appliances, and plug loads. When indirect emissions from electricity end-use are included, the commercial and residential sector emissions increase substantially.
The industrial sector is the third-largest source of direct emissions. However, if indirect emissions from electricity use are allocated to the industrial sector, industrial activities account for a much larger share of US greenhouse gas emissions.
In 2024, India's energy-related CO2 emissions rose by 5.3%, driven by rapid economic growth, infrastructure development, and surging energy demand. Severe and prolonged heatwaves boosted electricity consumption by 5%, straining power systems despite record-breaking additions of nearly 35 GW in solar PV and wind capacity. However, the growth in renewables could not keep pace with rising demand, leaving fossil fuels dominant in the electricity mix.
It is worth noting that a small number of fossil fuel producers and their investors are responsible for a significant proportion of global emissions. According to a report, just 100 companies have been the source of more than 70% of the world's greenhouse gas emissions since 1988.
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Fossil fuel emissions from commercial and residential sectors
Fossil fuel emissions from the commercial and residential sectors are driven by several factors. These sectors account for a significant share of US greenhouse gas emissions, particularly when indirect emissions from electricity use are considered. Buildings, which are a part of these sectors, utilise a large share of electricity, primarily for heating, ventilation, air conditioning, lighting, appliances, and plug loads.
The commercial and residential sectors' emissions arise from burning fossil fuels for heat and using gases for refrigeration and cooling in buildings. Non-building-specific emissions, such as waste handling, also contribute. The combustion of fossil fuels for electricity production is a significant factor, with 60% of electricity generated in 2022 coming from burning fossil fuels, mainly coal and natural gas.
In 2022, CO2 emissions from fossil fuel combustion increased by 8% compared to 2020 and by 1% compared to 2021. This rise was driven by the economic rebound after the COVID-19 pandemic. Additionally, CO2 emissions from natural gas consumption increased by 5% in 2022 compared to 2021.
While the commercial and residential sectors contribute to fossil fuel emissions, other sectors, such as transportation and industry, also play a significant role. The transportation sector, with its reliance on petroleum-based fuels, is the largest source of direct greenhouse gas emissions. The industrial sector, which includes chemical and metallurgical processes, waste management, and energy consumption, is also a major contributor to emissions.
It is worth noting that a small number of fossil fuel producers and investors hold significant responsibility for global emissions. According to reports, just 100 companies have been the source of over 70% of global greenhouse gas emissions since 1988. This highlights the importance of addressing fossil fuel production and corporate responsibility in mitigating climate change.
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Fossil fuel emissions from the top 100 companies
Fossil fuels are a major contributor to greenhouse gas emissions, and the industrial, commercial, residential, transportation, and electricity production sectors all play a role in this. In 2022, 60% of electricity was generated by burning fossil fuels, mainly coal and natural gas.
A notable report, the Carbon Majors Report, published by the Climate Accountability Institute in collaboration with CDP, an environmental non-profit, revealed that just 100 companies have been responsible for over 70% of global greenhouse gas emissions since 1988. This highlights the significant impact of a relatively small number of fossil fuel producers, with more than half of global industrial emissions since 1988 being traced to only 25 companies, including ExxonMobil, Shell, BP, and Chevron.
The report underscores the critical role of these carbon majors in addressing emissions and driving systemic change. It also emphasizes the importance of investors in engaging with these companies and urging them to disclose climate risks. The continued extraction of fossil fuels at the current rate is projected to lead to a 4°C rise in global average temperatures by the end of the century, resulting in catastrophic consequences such as species extinction and global food scarcity.
While the transportation sector is the largest source of direct greenhouse gas emissions, the industrial sector is the third largest, and its contribution becomes more significant when indirect emissions from electricity use are considered. The top 20 fossil fuel companies have contributed to 35% of all energy-related carbon dioxide and methane worldwide, totaling 480 billion tonnes of carbon dioxide equivalent since 1965.
Recent reports have also identified 36 fossil fuel firms responsible for half of global emissions in 2023, with Saudi Aramco being the highest emitter. State-owned companies dominated global emissions that year, with 16 out of 25 state-owned firms being among the top 20 emitters.
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Frequently asked questions
Fossil fuel companies are huge polluters and remain a dominant cause of global warming. In 2018, 89% of global CO2 emissions came from fossil fuels and industry. In 2022, fossil fuel combustion was responsible for about 74% of total US human-caused greenhouse gas emissions. According to a report, just 100 companies have been responsible for 71% of global emissions since 1988.
The transportation sector is the largest source of direct greenhouse gas emissions due to its near-complete dependence on petroleum fuels. The industrial sector is the third-largest source of direct emissions. When indirect emissions from electricity use are included, industrial activities account for a much larger share of US greenhouse gas emissions. The commercial and residential sectors also contribute significantly, with emissions from burning fossil fuels for heat and using gases for refrigeration and cooling in buildings.
The top 20 fossil fuel companies have collectively produced fuels that led to 480 billion tonnes of carbon dioxide and methane emissions from 1965 to 2017, amounting to 35% of global fossil fuel emissions in that period. The largest contributors include Saudi Aramco, Chevron, Gazprom, ExxonMobil, BP, and Royal Dutch Shell.
Fossil fuel companies bear substantial responsibility for the adverse impacts of their products. They had early knowledge that their products would destabilize the climate, yet they continued to invest in additional production and sought to perpetuate the carbon economy. The Climate Accountability Institute was formed to confront fossil fuel companies and leverage their commitment to align production and emissions with the targets of the Paris Agreement and the Intergovernmental Panel on Climate Change (IPCC).
