Groundbreaking ‘Carbon Majors’ research finds 100 active fossil fuel producers including ExxonMobil, Shell, BHP Billiton and Gazprom are linked to 71% of industrial greenhouse gas emissions since 1988. Show
July 10, 2017: Historic new research from CDP, voted no. 1 climate change research provider by institutional investors, in collaboration with the Climate Accountability Institute, today reveals that 71% of all global GHG1 emissions since 1988 can be traced to just 100 fossil fuel producers. This group is the source of 635 billion tonnes of GHGs emitted since 1988, the year human-induced climate change was officially recognized. The data also shows that 32% of these legacy emissions come from companies that are public investor-owned, highlighting the power of investors in the transition to a sustainable economy. The Carbon Majors report has been produced using the most comprehensive dataset of historic company-related greenhouse gas emissions produced to date. The report also shows that these global-scale emissions are concentrated over a small number of producers. From 1988 to 2015, just 25 fossil fuel producers are linked to 51% of global industrial GHG emissions. The highest emitting companies over the period since 1988 include:
Looking further back in time, the
report also points towards a doubling in the contribution of fossil fuels to climate change since 1988. All fossil fuel company operations and products worldwide have released more emissions in the last 28 years than in the 237 years previously: 833 GtCO2e in the 28-year period from 1988 to 2015, compared with 820 GtCO2e in the 237 years between 1988 and the birth of the industrial revolution, measured from 1751. Including all historical years of
data2, the database captures nearly one trillion tonnes (923 billion) of GHGs from the 1003 producers, which amounts to 52% of all industrial GHGs ever emitted. Pedro Faria, Technical Director at CDP says: “This ground-breaking report pinpoints how a relatively small set of just 100 fossil fuel producers may hold the key to systemic change on carbon emissions. We are seeing critical shifts in policy, innovation and financial capital that put the tipping point for a low carbon transition in reach, and this historic data shows how important the role of the carbon majors, and the investors who own them, will be.” “In particular, the report shows that investors in fossil fuel companies own a great legacy of almost a third of all industrial GHG emissions, and carry influence over one fifth of the world’s industrial GHG emissions today. That puts a significant responsibility on those investors to engage with carbon majors and urge them to disclose climate risk in line with the FSB Task Force for Climate-related Financial Disclosure (TCFD) recommendations, and set ambitious emission reduction targets through the Science Based Targets initiative to ensure they are aligned with the goals of the Paris Agreement.' The new CDP database also makes projections out to 2100 to illustrate the role of companies in addressing climate change. This follows a recent Oil and Gas sector report6 from CDP which revealed the industry is starting to transition to renewable energy. It found that European majors are outperforming their US peers in the shift to climate governance and strategy investment in low-carbon technology. In May this year, ExxonMobil shareholders called on the organisation to act on climate change. Richard Heede of The Climate Accountability Institute adds: “From carbon capture to clean energy, to methane mitigation to operational efficiencies, fossil fuel majors will have to demonstrate leadership by contributing to the low carbon transition at the scale and pace required. Fossil fuel extraction companies will need to plan their future in the context of a radical transformation of the global energy system. They owe it to the millions of clients they serve who are already feeling the effects of climate change, to consumers and investors, and to the many millions more that require energy for the comfort of their daily lives but are looking for alternatives to their products.” Earlier this month CDP welcomed the FSB Task Force on Climate-related Financial Disclosures (TCFD) recommendations to integrate climate information into mainstream financial filings. The report calls for increased governance that will bring climate change more squarely into the boardroom. CDP is the leading global platform for environmental disclosure, insight and action for investors, companies, cities, states and regions. The CDP Carbon Majors Report 2017 is available here. - ENDS - For more information please contact Caroline Barraclough Charlotte Webster About CDP CDP is an international non-profit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Voted number one climate research provider by investors and working with institutional investors with assets of US$100 trillion, we leverage investor and buyer power to motivate companies to disclose and manage their environmental impacts. Nearly 6,000 companies with some 60% of global market capitalization disclosed environmental data through CDP in 2016. This is in addition to the over 500 cities and 100 states and regions who disclosed, making CDP’s platform one of the richest sources of information globally on how companies and governments are driving environmental change. CDP, formerly Carbon Disclosure Project, is a founding member of the We Mean Business Coalition. Please follow @CDP to find out more. www.cdp.net About Climate Accountability Institute CAI is an independent research institute focusing on anthropogenic climate change, dangerous interference with the climate system, the contribution of
fossil fuel producers' carbon production to atmospheric carbon dioxide content, and the risk and disclosure requirements of fossil fuel producers regarding emissions of greenhouse gases. CAI gratefully acknowledges financial support from Wallace Global Fund and Rockefeller Brothers Fund. About Carbon Majors Download the Carbon Majors Report 2017
1 This excludes ‘non-industrial’ sources of anthropogenic GHG emissions such as carbon dioxide from land-use change and agricultural methane. What industries are most responsible for climate change?Sector by sector: where do global greenhouse gas emissions come from?. Energy (electricity, heat and transport): 73.2%. Direct Industrial Processes: 5.2%. Waste: 3.2%. Agriculture, Forestry and Land Use: 18.4%. What are the top 10 contributors to global warming?Top 10 Causes Of Global Warming. Waste.. Power Plants. ... . Oil Drilling. ... . Transport and Vehicles. ... . Consumerism. ... . Farming. ... . Industrialization. Industrialisation is harmful in a variety of ways. ... . Overfishing. Fish is one of humans main sources of protein and a lot of the world now rely on this industry. ... . What company is the biggest polluter?The most polluting companies in 2020. Who is actually responsible for climate change?Tens of thousands of scientists in more than a hundred nations have amassed an overwhelming amount of evidence pointing to a clear conclusion: Humans are the main cause of climate change.
|