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100 companies can save the planet

LONDON: July 10, 2017: New research from the Carbon Disclosure Project (CDP) reveals that 71 percent of all greenhouse gas emissions (GHGs) since 1998, when human-induced climate change was officially recognized, can be traced to 100 fossil fuel producers.

From 1988 to 2015, just 25 fossil fuel producers are linked to 51 percent of global industrial GHG emissions with the highest publicly-quoted companies being ExxonMobil, Shell, BP, Chevron, Peabody, Total, and BHP Billiton; and state-owned entities such as Saudi Aramco, Gazprom, National Iranian Oil, Coal India, Pemex, CNPC and Chinese coal - of which the Shenhua Group & China National Coal are key players.

Exxon-MobilThe data also reveals that fossil fuel company operations and products worldwide have released more emissions in the last 28 years than in the previous 237. Between 1988 and 2015 they produced 833 gigatonnes of CO2, compared to 820 gigatonnes from 1751 to 1988.

The CDP says if the trend in fossil fuel extraction continues at the same rate over the next 28 years, global average temperatures would rise by 4ºC by the end of the century – leading to substantial species extinction and large food scarcity risks worldwide.

Technical director of the CDP Pedro Faria noted: "This ground-breaking report pinpoints how a relatively small set of just 100 fossil fuel producers may hold the key to systemic change on carbon emissions.

"That puts a significant responsibility on those investors to engage with carbon majors and urge them to disclose climate risk and set ambitious emission reduction targets to ensure they are aligned with the goals of the Paris Agreement."

Richard Heede of The Climate Accountability Institute that co-produced the report added: "Fossil fuel majors will have to demonstrate leadership by contributing to the low carbon transition at the scale and pace required."

CDP is a global platform for environmental disclosure, insight and action for investors, companies, cities, states and regions.

The organization's latest data says the top 25 emission producers in order of magnitude are: China (Coal), 
Saudi Arabian Oil Company (Aramco), Gazprom OAO, 
National Iranian Oil Co, 
ExxonMobil Corp, 
Coal India, 
Petroleos Mexicanos (Pemex), Russia (Coal), 
Royal Dutch Shell PLC, 
China National Petroleum Corp (CNPC), 
Chevron Corp, 
Petroleos de Venezuela SA (PDVSA), 
Abu Dhabi National Oil Co, 
Poland Coal, 
Peabody Energy Corp, 
Sonatrach SPA, 
Kuwait Petroleum Corp, 
Total SA, 
BHP Billiton Ltd,
Petroleo Brasileiro SA (Petrobras),
Lukoil OAO,
Rio Tinto,
Nigerian National Petroleum Corp,
Petroliam Nasional Berhad (Petronas),
Rosneft OAO,
Arch Coal Inc,
Iraq National Oil Co, and
Eni SPA.

In March this year ExxonMobil CEO Darren Woods announced his company would invest US$20 billion over the next decade to expand its manufacturing capacity along the U.S. Gulf Coast.


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