Carbon Majors refer to the world’s largest oil, gas, coal, and cement producers that have historically been responsible for a significant portion of global greenhouse gas emissions. These companies have played a major role in contributing to climate change through the extraction and burning of fossil fuels, as well as the production of cement, which releases large amounts of carbon dioxide into the atmosphere.
A recent study conducted by researchers at the Climate Accountability Institute and published in the journal Environmental Research Letters has shed light on the historical emissions of these Carbon Majors. The study analyzed data from 1965 to 2017 and found that just 20 companies have been responsible for one-third of all carbon dioxide and methane emissions since the Industrial Revolution.
The study identified the top five Carbon Majors as Chevron, ExxonMobil, Saudi Aramco, BP, and Gazprom, with these companies alone accounting for over 10% of global emissions. Other major contributors include Shell, Total, ConocoPhillips, Peabody Energy, and Coal India.
The findings of this study highlight the disproportionate impact that a small number of companies have had on the environment and the urgent need for action to reduce emissions and transition to renewable energy sources. These Carbon Majors have not only contributed significantly to climate change but have also lobbied against regulations and policies aimed at curbing emissions and promoting clean energy.
The study also underscores the importance of holding these companies accountable for their role in driving climate change. Many of these Carbon Majors have faced lawsuits and shareholder activism in recent years, with investors increasingly demanding transparency and action on climate-related issues.
In response to growing pressure from investors, consumers, and governments, some Carbon Majors have started to take steps to reduce their carbon footprint. Many have set targets to reduce emissions, invest in renewable energy projects, and improve energy efficiency. However, critics argue that these efforts are not enough to offset the damage caused by decades of fossil fuel extraction and combustion.
Moving forward, it is crucial for Carbon Majors to take more ambitious action to reduce emissions and transition to a low-carbon economy. This will require significant investments in renewable energy, carbon capture and storage technologies, and sustainable practices. It will also require greater transparency and accountability from these companies in reporting their emissions and climate-related risks.
Ultimately, the study of historical data from the world’s largest oil, gas, coal, and cement producers serves as a stark reminder of the urgent need to address climate change and hold those responsible for driving it accountable. Only through collective action and cooperation can we hope to mitigate the impacts of climate change and create a more sustainable future for generations to come.
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- Source: https://zephyrnet.com/carbon-majors-historic-data-from-the-worlds-largest-oil-gas-coal-and-cement-producers/