Scientists say they can calculate the cost of oil giants’ role in global warming

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🗞️ Driving the news: Scientists have unveiled a new model that quantifies the economic damage caused by individual fossil fuel companies’ greenhouse gas emissions
• Published in Nature, the analysis estimates that 111 firms collectively caused $28 trillion in global damages from extreme heat between 1991 and 2020
• The model aims to support climate lawsuits by linking corporate emissions to specific financial harms

🔭 The context: Climate litigation has surged globally, targeting fossil fuel producers for their role in the climate crisis
• Until now, a key legal obstacle has been attributing specific damages to individual emitters
• The new tool, developed by researchers at Dartmouth and Stanford, integrates emissions data, climate modeling, and economic impact analysis to bridge that gap
• The model builds on two decades of "attribution science" that assesses the climate impact of human activities

🌍 Why it matters for the planet: The model could reshape accountability in climate justice efforts by equipping courts with quantifiable evidence of harm caused by major polluters
• If adopted in litigation, it may lead to financial penalties and stricter corporate responsibility standards
• However, legal and scientific challenges remain, including contesting assumptions and managing uncertainties in climate modeling

⏭️ What's next: Legal experts anticipate this model will be tested in upcoming U.S. lawsuits, including high-profile cases in Massachusetts and Honolulu
• With trials nearing, the ability to demonstrate quantifiable harm may become decisive
• States like New York and Vermont are moving to implement laws that enforce climate accountability, potentially guided by tools like this
• Political opposition, particularly from the Trump administration, may escalate efforts to block such legal and legislative advances

💬 One quote: “We can now do that accounting exercise,” — co-author Justin Mankin, referring to assigning specific climate damage to individual emitters

📈 One stat: According to the study, Saudi Aramco alone is linked to $2.05 trillion in extreme heat-related damages from 1991 to 2020

See on illuminem's Data Hub™ the sustainability performance of Aramco and its peers Chevron, ExxonMobil, BP, and ConocoPhillips

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