A handful of corporations are spewing out the majority of the planet’s carbon emissions. Just 36 companies were responsible for more than half of the world’s CO2 output in 2023, according to a new report by Carbon Majors.
Leading the pack is Saudi Aramco, belching out 4.38% of the world’s emissions. Close behind are Coal India, CHN Energy, National Iranian Oil Co., and Jinneng Group. Together, these five alone pumped 7.4 billion tonnes of CO2 into the air—roughly 17.4% of global emissions.
Environmentalists are sounding the alarm, but does anyone really expect these companies to change course? Tzeporah Berman, an activist behind the Fossil Fuel Non-Proliferation Treaty Initiative, isn’t holding her breath. She calls it “truly alarming” that fossil fuel giants are ramping up emissions despite mounting evidence of climate-related disasters.
Carbon Majors compiled emissions data from 169 of the world’s biggest producers of oil, gas, coal, and cement. These industries are the backbone of modern civilization, yet they also account for an immense share of pollution. Their combined output in 2023 alone hit 33.9 gigatonnes of CO2 and equivalent greenhouse gases.
Here’s the kicker—93 of these firms actually increased their emissions from 2022 to 2023. So much for cutting back. The report calculates pollution levels by tracking company production figures and estimating the emissions generated in the process. The result? A stark picture of a world dominated by a few high-emission behemoths.
This isn’t a new phenomenon. Carbon Majors tracks historical emissions all the way back to 1854. Over nearly two centuries, fossil fuel and industrial giants have driven the rise of atmospheric CO2, fueling both economic progress and environmental concerns.
The reality is simple: If the world is serious about slashing emissions, the focus has to be on these major players. Whether they will ever willingly curb production is another matter entirely.
Five Fast Facts
- Saudi Aramco, the world’s top polluter, is also the most profitable oil company on the planet.
- Coal India, one of the top five emitters, is the largest coal-producing company in the world.
- CHN Energy, a major Chinese polluter, was formed from a merger of two state-owned energy giants.
- The Carbon Majors database tracks emissions data going back over 170 years.
- Despite growing pressure, global fossil fuel consumption hit record highs in 2023.
