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Just 57 companies linked to 80% of greenhouse gas emissions since 2016

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on The Guardian or enjoy below:

🗞️ Driving the news: A study highlights that just 57 companies in the oil, gas, coal, and cement sectors are responsible for 80% of the global greenhouse gas emissions since the Paris climate agreement in 2016 
• Despite global pledges to reduce emissions, many of these major producers have actually increased their fossil fuel output and related emissions in the years following the agreement

🔭 The context: The Carbon Majors Database, a prominent research tool, illustrates the significant impact of these corporations on climate change 
• ExxonMobil, Shell, BP, Chevron, and TotalEnergies, along with state and state-owned producers, particularly in the Asian coal sector, are identified as the top contributors to global emissions

🌍 Why it matters for the planet: This surge in emissions contradicts the International Energy Agency's warning that no new oil and gas fields can be developed if the world is to maintain global heating within safe limits 
• The increasing global temperatures are inching closer to the Paris agreement's lower target of 1.5°C above pre-industrial levels, presenting severe risks to humanity and the natural world

⏭️ What's next: The ongoing expansion of fossil fuel production signals a looming threat to achieving climate stability 
• While some companies have set net zero emissions targets, the overall trend of increased production post-Paris agreement highlights a critical need for accountability and action towards sustainable energy practices

💬 One quote: “It is morally reprehensible for companies to continue expanding exploration and production of carbon fuels in the face of knowledge now for decades that their products are harmful,” (Richard Heede, founder of the Carbon Majors dataset)

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