financetom
Business
financetom
/
Business
/
Majority of CO2 emissions linked to 57 producers and countries, report says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Majority of CO2 emissions linked to 57 producers and countries, report says
Apr 3, 2024 11:16 PM

BRUSSELS/BERLIN, April 4 (Reuters) - The vast majority

of planet-warming carbon dioxide emissions since 2016 can be

traced to a group of 57 fossil fuel and cement producers,

researchers said on Thursday.

From 2016 to 2022, the 57 entities including nation-states,

state-owned firms and investor-owned companies produced 80% of

the world's CO2 emissions from fossil fuels and cement

production, said the Carbon Majors report by non-profit think

tank InfluenceMap.

The world's top three CO2-emitting companies in the period

were state-owned oil firm Saudi Aramco, Russia's

state-owned energy giant Gazprom and state-owned

producer Coal India, the report said.

Saudi Aramco declined to comment. Coal India and Gazprom did

not immediately respond to requests for comment.

The report found most companies had expanded their fossil

fuel production since 2015, the year when nearly all countries

signed the U.N. Paris Agreement, committing to take action to

curb climate change.

Since then, while many governments and companies have set

tougher emissions targets and rapidly expanded renewable energy,

they have also produced and burned more fossil fuels, causing

emissions to rise.

Global energy-related CO2 emissions hit a record high last

year, the International Energy Agency has said.

InfluenceMap said its findings showed that a relatively

small group of emitters were responsible for the bulk of ongoing

CO2 emissions, and it aimed to increase transparency around

which governments and companies were causing climate change.

"It can be used in a variety of cases, ranging from legal

processes seeking to hold these producers to account for climate

damages, or it can be used by academics in quantifying their

contributions, or by campaign groups, or even by investors,"

InfluenceMap Program Manager Daan Van Acker said of the report.

A previous edition of the Carbon Majors database was cited

last month in a legal case brought by a Belgian farmer against

French oil and gas company TotalEnergies. The farmer

argued that as one of the world's top 20 CO2-emitting companies,

TotalEnergies was partly responsible for damage to his

operations from extreme weather.

The database was first launched in 2013 by the non-profit

research organisation Climate Accountability Institute.

It combines companies' self-reported data on coal, oil and

gas production with sources like the U.S. Energy Information

Administration, national mining associations and other industry

data.

Carroll Muffett, CEO of the non-profit Center for

International Environmental Law said the database would improve

investors' and litigators' ability to track companies' actions

over time.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved