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illuminem summarizes for you the essential news of the day. Read the full piece on Axios or enjoy below:
🗞️ Driving the news: A new analysis from InfluenceMap’s Carbon Majors Database reveals that just 36 companies were responsible for over 50% of global fossil fuel CO2 emissions in 2023
• State-owned entities accounted for the majority (52%) of emissions, with Saudi Aramco leading at 4.4%
• Investor-owned firms like ExxonMobil (See sustainability performance), Chevron, and Shell contributed smaller but still significant shares
🔭 The context: The database, which tracks emissions since 1854, shows that Chinese companies contributed the most emissions by country in 2023, totaling 23% of global fossil fuel and cement CO2 emissions
• New data also highlights China’s CHN Energy as the third-largest emitter
• The report underscores a growing trend of holding fossil fuel companies accountable through laws, lawsuits, and regulatory actions
🌍 Why it matters for the planet: Identifying specific corporate polluters can drive legal and policy responses aimed at mitigating climate change
• Some U.S. states, like New York and Vermont, are using this data to propose climate superfund laws
• Activists and researchers also leverage the findings to attribute extreme weather damages to individual companies
⏭️ What's next: Pressure on major polluters is expected to increase through climate litigation and regulatory scrutiny
• Efforts to transition away from fossil fuels will likely focus on these key players
• More detailed emissions tracking could further expose corporate responsibility and push for stronger climate policies
💬 One quote: “A global turnaround is not just urgent — it's essential, and it must start with these key players.” — Johan Rockström, Director of the Potsdam Institute for Climate Impact Research
📈 One stat: Saudi Aramco alone was responsible for 1,839 MtCO2 emissions in 2023, or 4.4% of global fossil fuel CO2 emissions
See here detailed sustainability performance of energy companies like ExxonMobil Corporation, Chevron, Saudi Aramco and Shell
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