🧃 The Power of 36: Why Just a Few Companies Drive Half of Global Emissions

Welcome to The Strawman, the daily climate newsletter that's like your eco-conscious friend who never forgets the receipts — especially when it comes to emissions data.

The Power of 36

Turns out, the climate change villain isn't a single monster but more like a very exclusive club. According to the Carbon Majors database, just 36 fossil fuel and cement companies were responsible for more than half of global greenhouse gas emissions in 2023. Think of it like a global emissions potluck — but only a few guests are bringing most of the dish (and it’s all coal). Even funnier when you factor in why the term “carbon footprint” exists in the first place…

Saudi Aramco takes the crown for the world’s biggest emitter, with India’s Coal India and China’s CHN Energy following close behind. In fact, 16 of the top 20 emitters were state-owned, highlighting the power (and pollution) of government-backed enterprises. Investor-owned giants like ExxonMobil, Chevron, Shell, TotalEnergies, and BP still contributed significantly, making up about 5% of global emissions.

State-Owned, State-Emitting

Why is it so tough to hold these companies accountable? It’s tricky. While investor-owned companies are being sued left and right for their emissions, state-owned enterprises are shielded by national control. Western governments can’t exactly take other nations to court over emissions, even if their industries are fuelling the climate crisis.

This comes as countries start loosening their climate commitments, and fossil fuel producers double down on traditional energy sources. China, despite its huge surge in renewable energy, still led global emissions last year — with eight of its companies responsible for a staggering 17% of the total.

Litigation vs. Legislation

While some countries slow-walk their climate action, others are turning up the heat. Vermont recently became the first US state to charge oil companies for climate damages, using data from the Carbon Majors database. It's a sign that climate accountability could shift from public pledges to legal battles.

Meanwhile, emissions from coal and cement producers rose in 2023, but there was a glimmer of hope: natural gas emissions dropped nearly 4%. And while emissions increased in Australia, Asia, and North America, they actually fell 4% in Europe. Small victories, but ones worth noting.

Takeaway: A handful of companies hold the climate’s fate in their hands — and unless emissions are reined in, they're taking us all along for the (very heated) ride.