36 fossil fuel giants account for more than half of global emissions, and energy transformation has been collectively "put on the brakes"
author: Ann
2025-03-18
Recently, a study disclosed by the British newspaper The Guardian showed that in 2023, only 36 fossil fuel companies in the world will emit more than 20 billion tons of carbon dioxide, accounting for more than 50% of the world's total emissions. If it is regarded as a single "country", its carbon footprint will exceed that of any sovereign state, highlighting the decisive influence of these companies on the climate crisis.
State-owned enterprises dominate the emission map, Saudi Aramco becomes a "hidden carbon power"
Research data shows that Saudi Aramco ranks first with 1.839 billion tons of carbon dioxide equivalent (MtCO₂e), accounting for 4.38% of the world's total emissions, equivalent to the world's fourth largest carbon emitter. ExxonMobil's annual emissions are equivalent to Germany, and more than two-thirds of the 36 companies are state-owned enterprises, mainly concentrated in the Middle East, Asia, Latin America and Africa. The data comes from the "Carbon Emission Subject Database" that tracks emissions from major fossil fuel companies around the world, and has been used to support the climate damage compensation bill passed by New York and Vermont in the United States.
Energy giants collectively "change their faces" and transformation promises become empty talk
What is more alarming is that these carbon emission "giants" are accelerating their departure from low-carbon commitments. British Petroleum (BP), once regarded as a benchmark for transformation, recently announced that it would reduce its investment in renewable energy from US$5 billion to US$1.5-2 billion, while increasing its investment in oil and gas by tens of billions, and plans to increase oil and gas production by 20% by 2030. BP, which loudly declared the "end of the oil era" five years ago, has now seen its stock price fall below the level of five years ago. Its new CEO Murray Auchincloss bluntly stated that it might abandon its renewable energy target and implement a 5% layoff plan instead.
What is more alarming is that these carbon emission "giants" are accelerating their departure from low-carbon commitments. British Petroleum (BP), once regarded as a benchmark for transformation, recently announced that it would reduce its investment in renewable energy from US$5 billion to US$1.5-2 billion, while increasing its investment in oil and gas by tens of billions, and plans to increase oil and gas production by 20% by 2030. BP, which loudly declared the "end of the oil era" five years ago, has now seen its stock price fall below the level of five years ago. Its new CEO Murray Auchincloss bluntly stated that it might abandon its renewable energy target and implement a 5% layoff plan instead.
European energy giants are following suit. Total Energy has lowered its renewable energy installation target by 25% in 2030 and abandoned its promise to "invest 50% of its capital in low-carbon projects"; Statoil announced that it will increase production by 10% in the next four years, and its oil and gas production will exceed 2.2 million barrels per day in 2030. Shell, ExxonMobil, Chevron and other companies have cut their investment in new energy, and Enel has even cut its renewable energy budget in half for the next three years.
Political winds reversed, the United States "goes full steam" to expand production
Behind the corporate shift, political winds have become the key driver. In the first month of the Trump administration in the United States, it declared a "national energy emergency", withdrew from the Paris Agreement and opened more oil and gas exploration areas. Energy Secretary Chris Wright publicly stated that "the world needs more fossil fuels", and the United States' oil production has jumped to the top of the world. Against this background, giants such as ExxonMobil have claimed that they will continue to bet on traditional energy on the grounds of "energy security".
Behind the corporate shift, political winds have become the key driver. In the first month of the Trump administration in the United States, it declared a "national energy emergency", withdrew from the Paris Agreement and opened more oil and gas exploration areas. Energy Secretary Chris Wright publicly stated that "the world needs more fossil fuels", and the United States' oil production has jumped to the top of the world. Against this background, giants such as ExxonMobil have claimed that they will continue to bet on traditional energy on the grounds of "energy security".
Climate goals hang on a thread, where will corporate responsibilities go?
Research shows that the emission trajectory of these 36 companies directly determines the future of global climate. Although the scientific community warns that net zero emissions must be achieved by the middle of this century, energy giants are expanding their fossil fuel territory at an unprecedented rate. Environmental organizations point out that if the current trend continues, the goal of controlling global temperature rise to 1.5℃ will be completely shattered.
"These companies hold the key to the fate of human civilization," said Richard Heaton, a researcher at the Carbon Emissions Database. "They are both the root of the problem and the core of the solution. The current emergency brake-style strategic shift is overdrawing the living space of all mankind."
With the frequent climate lawsuits in various countries and the collective bankruptcy of corporate transformation commitments, global climate governance is facing unprecedented challenges. How to restrain the carbon emission "superpower" has become a key battle to determine the future of the earth.
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