Ameer Randolph
Fossil fuel companies have long been aware of their contribution to the climate crisis, yet many continue to expand their operations. The world's 36 largest fossil fuel companies are responsible for over half of the world's carbon dioxide emissions, with the top 20 highest carbon-producing entities accounting for 40.8% of emissions. These companies include Saudi Aramco, ExxonMobil, Chevron, Shell, TotalEnergies, and BP. Despite efforts to invest in renewable energy sources, fossil fuel companies continue to face criticism for their role in perpetuating the carbon era and driving the planet toward an existential threat.
| Characteristics | Values |
|---|---|
| Number of companies responsible for a third of all carbon emissions | 20 |
| Number of companies responsible for half of all fossil fuel carbon emissions | 36 |
| Number of companies responsible for 71% of global GHG emissions | 100 |
| Company that produced 4.38% of all carbon dioxide and methane since 1965 | Saudi Aramco |
| Company that topped the list of carbon dioxide emissions in 2023 | Saudi Aramco |
| Company that ranked 25th for global CO2 emissions share in 2023 | British BP |
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What You'll Learn
The top 20 companies that burn fossil fuels
Fossil fuel companies have been at the centre of the climate crisis, with their relentless exploitation of the world's oil, gas, and coal reserves directly linked to more than one-third of all greenhouse gas emissions. According to reports, the top 20 fossil fuel companies have contributed to 35% of all energy-related carbon dioxide and methane emissions worldwide, totalling 480 billion tonnes of carbon dioxide equivalent since 1965.
State-owned companies, in particular, have dominated the list of the highest emitters, with 16 out of the top 20 being state-controlled. Chinese companies have consistently contributed more fossil fuel-related CO2 emissions than any other country, with eight Chinese entities responsible for 17.3% of global fossil fuel emissions in 2023.
- Saudi Aramco: The leading state-owned polluter, Saudi Aramco, has produced 4.38% of all carbon dioxide and methane emissions since 1965.
- Coal India: The world's largest government-owned coal producer, with emissions accounting for 3.68% of global CO2 emissions.
- CHN Energy: A Chinese state-owned mining and energy company, responsible for 3.65% of global CO2 emissions.
- ExxonMobil: An American oil and gas company, identified as one of the highest emitting investor-owned companies.
- Chevron: An American oil and gas company, also identified as one of the highest emitting investor-owned companies.
- Shell: A British oil and gas company, ranked 25th for global CO2 emissions share in 2023, with plans to increase oil and gas production.
- BP: A British oil and gas company, ranked among the top 20 global emitters, with a focus on increasing fossil fuel production.
These companies have continued to expand their operations despite being aware of the devastating impact of their actions on the planet and humanity.
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State-owned companies that burn fossil fuels
State-owned companies have been identified as the largest emitters of fossil fuels, with investor-owned entities following closely behind. In 2023, 25 state-owned firms were among the top global emitters, with 16 of them making the list of the top 20. These 20 fossil fuel companies are responsible for more than one-third of all greenhouse gas emissions in the modern era.
The leading state-owned polluter is Saudi Aramco, which has produced about 4.38% of global carbon dioxide and methane emissions since 1965. If Aramco were a country, it would be the fourth-largest polluter in the world, after China, the US, and India. Saudi Aramco is followed by Coal India, the world's largest government-owned coal producer, and CHN Energy, a Chinese state-owned mining and energy company. Other state-owned companies that burn fossil fuels include Gazprom, and several Chinese companies, which contributed significantly more than companies from any other country.
In addition to the companies mentioned above, there are several other state-owned companies that burn fossil fuels and contribute to global emissions. These companies are primarily focused on the extraction and production of oil, gas, and coal, and their activities have been linked to the climate emergency that threatens the future of humanity. Despite the growing awareness of the industry's devastating impact on the planet, many of these companies have continued to expand their operations and increase fossil fuel production.
It is important to note that the role of these state-owned companies in the climate crisis has come under increasing scrutiny. While countries have made commitments to reduce emissions through agreements like the Paris Agreement, state-owned companies are often found to be ignoring the urgent need for change. As a result, there have been calls for urgent measures to rein in the activities of these polluting interests and hold them accountable for their contributions to climate change.
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Investor-owned companies that burn fossil fuels
The burning of fossil fuels has been identified as a significant contributor to global warming and climate change. While state-owned companies dominate global emissions, investor-owned firms are also major players in the fossil fuel industry and have been linked to substantial carbon emissions.
Investor-owned companies, often household names like Chevron, Exxon, BP, and Shell, have been identified as some of the worst offenders when it comes to carbon emissions. These companies have a significant influence on politics and spend billions of pounds lobbying governments to delay, control, or block policies aimed at tackling climate change. They are also responsible for portraying themselves as environmentally responsible while accelerating the extraction and use of fossil fuels.
A 2019 analysis by Richard Heede of the Climate Accountability Institute revealed that the top 20 fossil fuel companies, including investor-owned firms, contributed to 35% of all energy-related carbon dioxide and methane emissions worldwide since 1965. Chevron, Exxon, BP, and Shell, were among the top investor-owned corporations on the list, with these four companies alone responsible for over 10% of global carbon emissions during that period.
Another notable example of an investor-owned company burning fossil fuels is ExxonMobil, which is one of the world's largest publicly traded oil and gas companies, often referred to as a "supermajor." ExxonMobil has been linked to high carbon emissions, and its lobbying efforts to influence climate policy have been scrutinized.
The Carbon Majors Database, published by the Carbon Disclosure Project (CDP), revealed that 32% of emissions come from public investor-owned companies. This highlights the significant role that investors play in the transition to a sustainable economy. As such, investors are increasingly being held accountable for the environmental impact of the companies they support.
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Companies that burn fossil fuels and deny climate change
Despite the growing awareness of the impact of fossil fuels on climate change, some companies continue to deny or downplay their role in contributing to this global issue. Here is an overview of companies that burn fossil fuels and their stance on climate change:
Saudi Aramco:
Saudi Aramco, a state-owned oil company, has produced 4.38% of all carbon dioxide and methane emissions since 1965. While the company has not explicitly denied climate change, it has been criticized for its lack of transparency and inaction in addressing its environmental impact.
ExxonMobil:
ExxonMobil, one of the largest fossil fuel companies, has a long history of climate change denial and delayism. The company has been accused of spreading propaganda, using subtle language to shift the focus away from their fossil fuel products. They have faced lawsuits and allegations of deceptive practices and potential fraud.
Shell:
Shell, another major oil company, acknowledged the connection between climate change and fossil fuel burning as early as 1959. However, instead of pledging carbon emissions reductions, Shell claimed that it would combat climate change by continuing to produce oil and gas, emphasizing economic growth and technological innovation.
Chevron:
Chevron, a major oil and gas company, has been accused of spreading disinformation and obstructing climate policies. Along with ExxonMobil, Chevron faces lawsuits alleging deceptive practices and potential fraud related to their role in the climate crisis.
Chinese Companies:
Chinese state-owned companies contributed significantly to global fossil fuel emissions, with a 23% share in 2023. These companies have been criticized for their lack of commitment to slowing down production and addressing the climate emergency.
While these companies have been specifically mentioned in reports and studies, it is important to note that numerous other fossil fuel companies engage in similar denial or delay tactics. The fossil fuel industry as a whole has been accused of hindering progress in addressing climate change, with many companies prioritizing profits over environmental responsibility.
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Companies that burn fossil fuels and are taking action
Several fossil fuel companies are taking action to address their contributions to the climate crisis. Despite driving the climate emergency threatening humanity, some companies are taking steps to invest in renewable or low-carbon energy sources.
Saudi Aramco, the leading state-owned polluter, has produced 4.38% of carbon dioxide and methane emissions since 1965. However, the company claims to support the Paris Agreement targets to reduce emissions and limit global temperature rise. Chevron, Exxon, BP, and Shell are also among those acknowledging the climate science and expressing support for emissions reduction targets.
The Carbon Majors Database, created by the London-based think tank InfluenceMap, holds companies accountable for their contributions to climate change. This database has been pivotal in US climate cases and regulatory actions, such as the complaint against BlackRock for misleading investors. Additionally, the database enables researchers to tie extreme weather events directly to specific companies, providing evidence for advocacy groups' legal actions against fossil fuel companies and leaders.
While some companies are taking action, it is important to note that many are still expanding their operations and increasing emissions, exacerbating the climate crisis. The transition to renewable energy sources is urgent, and public demand for funding this shift is growing.
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Frequently asked questions
The Saudi Arabian petroleum and national gas company, Saudi Aramco, is the world's largest corporate greenhouse gas emitter.
Saudi Aramco has emitted almost 70 billion metric tons of carbon dioxide equivalent between 1965 and 2020.
The 20 biggest polluters are responsible for just over 600 GtCO₂e, accounting for roughly 30% of the entire world's fossil fuel and cement CO₂ emissions.
36 fossil fuel giants are responsible for over half of the world's CO2 emissions.
Other top polluting fossil fuel companies include ExxonMobil, Chevron, Shell, TotalEnergies, BP, Coal India, and CHN Energy.
