How 36 Companies Produce Half of the World’s CO2 Emissions

The Carbon Majors report, a comprehensive database tracking oil, gas, coal, and cement extraction by the world’s 180 largest companies, finds that 36 corporations are responsible for half of global CO2 emissions. Just five of the biggest polluters—Saudi Aramco, Coal India, CHN Energy, the National Iranian Oil Company, and Jinneng Group—accounted for 7.4 billion tons of CO2, or 17.4 percent of all global emissions. The Carbon Majors dataset spans 1854 to 2023, combining company production reports with emissions data to assess each company’s greenhouse gas output. The ongoing analysis repeatedly highlights which producers drive the bulk of pollution.

In 2023, the largest carbon producers collectively emitted 17.5 gigatons of CO2. Leading the pack was Saudi Aramco, which alone contributed 1.839 billion tons of CO2, equal to 4.38 percent of total global emissions. Coal India, the world’s largest state-owned coal producer, was responsible for 1.548 billion tons of CO2, or 3.68 percent of the global total. CHN Energy (China Energy) was third, emitting 1.533 billion tons, or 3.65 percent of worldwide emissions. State-owned enterprises were major sources overall: 68 state companies tracked by Carbon Majors produced 22.5 billion tons of CO2, more than half of the emissions linked to fossil fuels and cement.

Coal remains the largest source of greenhouse gas emissions worldwide, responsible for 41 percent. But the fastest-growing source is cement production: CO2 emissions from cement companies rose 6.5 percent in a single year. Four of the five companies with the highest emissions in 2023 were cement producers, the Daily Mail reported.

Emmett Conner, a senior analyst at InfluenceMap, the organization behind the Carbon Majors report, said, “Despite global commitments to combat climate change, a small group of the world’s largest fossil fuel producers is significantly ramping up production and emissions. This research underscores the disproportionate impact these companies have on the climate crisis, and some are now facing legal challenges.”