The findings of the report, which analyses data from the seven years post the Paris Agreement, highlight the significant contribution of a select group of fossil fuel and cement producers to the worsening climate crisis.

Despite the global commitment to reduce greenhouse gas emissions through initiatives like the Paris Agreement, the report reveals a disconcerting trend of increasing production by many of the world’s leading industrial entities.

According to the report, 38 percent of total emissions during the specified period emanated from nation-states, with state-owned entities and investor-owned companies accounting for 37 percent and 25 percent, respectively.

This distribution underscores the substantial role played by both state-controlled and privately-owned corporations in exacerbating carbon emissions.

Despite international efforts to combat climate change, including commitments made under the Paris Agreement by nearly 200 parties, the report reveals that a significant number of state- and investor-owned companies have ramped up their production activities in recent years.

Notably, 58 out of 100 such companies tracked in the Carbon Majors Database have expanded their operations, with significant increases observed across different regions, including Asia, Europe, and North America.

The report also sheds light on the alarming increase in coal consumption, which surged by eight percent over the seven-year period to reach a record high of 8.3 billion tons.

State-owned entities such as Coal India, Russia’s Gazprom, and Saudi Aramco are identified as among the top three carbon dioxide producers, underscoring the substantial role played by government-controlled corporations in driving emissions.

In the United States, Exxon Mobil emerges as the leading contributor to carbon dioxide emissions among domestic companies, accounting for 1.4 percent of global emissions.

Tzeporah Berman, International Program Director at Stand.earth and Chair at Fossil Fuel Non-Proliferation Treaty, highlights the paradoxical behavior of these corporations, which continue to prioritize profits over environmental sustainability despite claims of commitment to a greener future.

The report categorizes entities into three types: investor-owned companies, state-owned companies, and nation-states. Historically, investor-owned companies, including Chevron, ExxonMobil, and BP, have accounted for 31 percent of emissions tracked by the database, while state-owned entities like Saudi Aramco, Gazprom, and the National Iranian Oil Company have contributed 33 percent.

Nation-states, including China and the Former Soviet Union, account for the remaining 36 percent.

As the world grapples with the urgent imperative to address climate change, the findings of the Carbon Majors report underscore the need for concerted efforts to hold corporations accountable for their environmental impact.

With calls for stronger government action and international cooperation, the report serves as a wake-up call, emphasizing the necessity of transitioning away from fossil fuels towards a more sustainable and equitable future.

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