Study Shows Just 100 Companies are source of more than 70% of global emissions

Posted by: AbbieKnight

According to a new report, just 100 companies have been the source of more than 70 percent of the world’s greenhouse gas emissions since 1988. The CDP Carbon Majors Report 2017 suggests there are 100 fossil fuel producers that have created nearly 1 trillion tonnes of greenhouse gas emissions.
Since the year 1988, more than half of global industrial emissions can be traced to only 25 corporate and state-owned entities. According to the report, the amount of historical emissions associated with these producers could have significantly contributed to climate change. If fossil fuel continue to extract at the same rate over the next 28 years as they have been in the past, average global temperatures could rise by 4 degrees Celsius, which could lead to horrible effects including species extinction and food scarcity.
This report is compiled from a database of publicly available emissions figures, in order to point out the role companies and their investors that could have a huge impact on climate change. CDP thinks both the investors and producers should understand the emissions associated with their companies.
According to Michael Brune, executive director of the US environmental organization, the Sierra Club, describes investing in fossil fuel as, “Not only is it morally risky, it’s economically risky. The world is moving away from fossil fuels towards clean energy and is doing so at an accelerated pace. Those left holding investments in fossil fuel companies will find their investments becoming more and more risky over time.”
To read the CDP Carbon Majors Report 2017: http://bit.ly/2tZU2Gq