Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
    • Moody's - Climate Risk Insurers series
    • Webinars
    • Podcasts
  • Jobs
    • The Actuary Jobs
    • Recruitment Consultants
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • July 2017
07

100 firms responsible for majority of CO2 emissions

Open-access content Thursday 13th July 2017 — updated 5.50pm, Wednesday 29th April 2020

Approximately 70% of global greenhouse gas emissions since 1988 can be traced to just 100 fossil fuel providers, according to new research by climate change research provider CDP.

2

It shows that the highest emitting companies since human-induced climate change was officially recognised, include ExxonMobil, Shell, BP, Chevron, Peabody, Total and BHP Billton.

However, the Chinese coal industry was by far the biggest culprit since 1988, accounting for 14.3% of global emissions, followed by Saudi Arabian oil company Aramco, which was responsible for 4.5%.

"We are seeing critical shifts that put the tipping point for a low-carbon transition in reach, and this data shows how important the role of the carbon majors, and the investors who own them, will be," CDP technical director, Pedro Faria, said.

The research shows these 100 providers are the source of 635 billion tonnes of greenhouse gas emissions since 1988, with just 25 corporate and state producers responsible for 51%.

It reveals that 32% of historic emissions come from publicly listed investor-owned companies, 59% from state-owned firms, and 9% from private investment.

In addition, it shows that companies have released 833Gt of CO2 in the last 28 years, compared with 820Gt in the previous 237 at the birth of the industrial revolution.

If the trend of fossil fuel extraction continues over the next 28 years, the report argues that global average temperature rises would be on course to increase 4ºC by the end of the century.

That would result in substantial species extinction and large food scarcity risks worldwide, it adds.

"Fossil fuel extraction companies will need to plan their future in the context of a radical transformation of the global energy system," Climate Accountability Institute director, Richard Heede.

"They owe it to the millions of clients they serve who are already feeling the effects of climate change, to consumers and investors, and to the many millions more that require energy for the comfort of their daily lives but are looking for alternatives to their products."


Sign up to our free newsletter here and receive a weekly roundup of news concerning the actuarial profession

This article appeared in the July 2017 issue of The Actuary.
Click here to view this issue
  • Landmark UK ruling gives equal pension rights to gay couples
  • Retirement outcomes since pensions freedoms 'extremely worrying'
  • Land's End to John O'Groats

You may also be interested in...

2

Far East meeting marks 170-year first as overseas membership grows

Tuesday 11th July 2017
In May this year, a Council meeting was held overseas for the first time in the 170-year history of the UK profession
Open-access content
2

52% of financial services leaders implementing blockchain

Thursday 13th July 2017
More than half of financial services directors in the UK have implemented blockchain, experiencing faster transactions and increased transparency.
Open-access content
2

Businesses ignoring incoming data protection regulation worldwide

Wednesday 12th July 2017
Just 40% of global executives believe their organisation will be subject to imminent General Data Protection Regulation (GDPR).
Open-access content
2

Globetrotter

Tuesday 11th July 2017
Globetrotter - July 2017
Open-access content
2

WEDDINGS - July 2017

Tuesday 11th July 2017
Weddings - July 2017
Open-access content
2

Table quiz

Tuesday 11th July 2017
By the Irish StudentSociety of Actuaries committee
Open-access content
Filed in
07
Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Senior Reserving Analyst

London (City of)
Negotiable
Reference
149485

Senior GI Modeler - Capital and Planning

London (Central)
£ excellent
Reference
149436

Risk Oversight Manager

Flexible / hybrid with a minimum of 2 days per week office-based
£ excellent
Reference
149435
See all jobs »
 
 

Today's top reads

 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2024 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ