Coal India Ltd , ARAMCO -JV between Saudi Arabia and USA and ExxonMobil identified as contributing 80% of carbon emissions in the world

 

57 COMPANIES LINKED TO 80% OF CO2 EMISSIONS SINCE 2016 By Ashok Nilakantan (New York)

Percent share in global emissions. Via: Axios.

Even as Americans or Europeans try to shift to Electric Vehicles with governments adhering to the UN protocols on carbon emission trying to phase out fossil fuels by 2050 and drastically reduce CO2 emissions by 2030, reduce water usage, new data points to a relatively small group of companies that contribute to 80% of the world’s CO2 emissions.

It comes as March was the 10th straight month in a row to break monthly heat records. The culprits being listed are ARAMCO - JV of Saudi Arabia and USA, Gazprom of Russia and state owned Coal India Ltd in India, the reports say. ExxonMobil of USA is yet another culprit in the carbon emissions.

BEHIND THE NUMBERS From 2016-2022, 57 fossil fuel and cement producers accounted for the majority of global emissions, the non-profit InfluenceMap found.

Leading the pack: Three state-owned groups in Saudi Arabia (Saudi Aramco), Russia (Gazprom), and India (Coal India). While US oil & gas producers like ExxonMobil dominate the private sector, emission surges are primarily led by state-owned producers, particularly in the Asian coal sector. During the timeframe, state-owned companies accounted for 37% of CO2 emissions. Since the start of the industrial revolution, 122 companies have been linked to 72% of all the fossil fuel and cement CO2 emissions, with Chinese state coal production alone accounting for 14% of historic global emissions. The US is currently the largest oil and gas producer in the world, but production is broken up among different companies rather than one massive state-owned group.  Since 2016, most of the companies expanded their fossil fuel production. This is notable as the UN Paris Climate Agreement, which Russia and Indian signed, went into effect that year.

CO2 emissions traced to 122 major carbon fuel & cement producers. Via: InfluenceMap.

WHAT’S NEXT March 2024 averaged 14.14 degrees Celsius or 57.9 degrees Fahrenheit — that’s 1.68 degrees Celsius warmer than pre-industrialized times. It’s now used as the base to measure rising temperatures.

The Paris Agreement set a target of keeping warming at or below 1.5 degrees Celsius (2.7 degrees Fahrenheit). The El Nino season, which peaked in December-January, is weakening and could lead to cooler temperatures next year. If that doesn’t happen, scientists warn climate change could enter “uncharted territory.” Background since 2020 CDP report:  Indian companies targeted in the 2020 CDP campaign 37 of the 1,051 targeted companies are Indian Page 1 of 2  Organisation Climate change status Forests status Water security status Bajaj Auto Did not submit Did not submit Did not submit Larsen & Toubro Did not submit Did not submit Did not submit Reliance Industries Did not submit Did not submit Did not submit Dabur India Did not submit Did not submit Did not submit Maruti Suzuki India Did not submit Did not submit Did not submit Godrej Consumer Products Submitted Did not submit Did not submit Asian Paints Did not submit Not requested Did not submit Oil & Natural Gas Did not submit Not requested Did not submit Bharat Petroleum Corporation Submitted Not requested Did not submit JSW Energy Submitted Not requested Did not submit NTPC Ltd Submitted Not requested Did not submit Shree Cement Submitted Not requested Did not submit Tata Global Beverages Submitted Not requested Did not submit Tata Power Co Submitted Not requested Did not submit Ultratech Cement Submitted Not requested Did not submit Grasim Industries Did not submit Did not submit Not requested Titan Company Submitted Did not submit Not requested Apollo Hospitals Enterprises Did not submit Not requested Not requested Bharti Infratel Limited Did not submit Not requested Not requested Century Textiles & Industries Did not submit Not requested Not requested Source: CDP Get the data Created with Datawrapper

 From Down to Earth Publication : June 10, 2020. Old report for backgrounder

Investors accuse 37 Indian companies of hiding environmental impact information

A group of 105 investors wrote to 1,051 corporate giants across 49 countries on the matter  

 

An alliance of global investors with a combined asset of over $10 trillion has accused 37 Indian companies — including Dabur India Ltd, Godrej Consumer Products Ltd and Bharat Petroleum Corporation Ltd — of allegedly not disclosing the full extent of their impact on climate crisis, water shortage and deforestation.

CDP, an environmental disclosure campaign platform, on behalf of 105 investors wrote to 1,051 multinationals spread across 49 countries, including Maruti Suzuki India Ltd, Apollo Hospitals Enterprises and Reliance Industries Ltd, to disclose the environmental impact information.

The companies being engaged cover over $8 trillion in global market capitalisation. They are estimated to emit more than 4,800 megatonnes (Mt) carbon dioxide equivalent (CO2e) annually — equivalent to the 2017 greenhouse gas emissions from the United States.

The non-profit claimed many companies in the list did not use standardised environment data in their sustainability reports that prohibits any form of comparison. The companies need to respond by August 26, by filling up an open questionnaire developed by CDP and that is aligned with the recommendations of the United Nations Task Force on Climate-related Financial Disclosures.

While CDP reaches out to 200 top companies listed in Indian stock markets every year, the group of investors targets a smaller sub-group of high-impact companies and asks them to fill up the CDP questionnaire. The number of high-impact Indian companies was 22 in 2019; it shot up to 37 in 2020.

“The number of companies that have been asked to disclose their environmental footprint in India has gone up. This shows greater interest by global investors in India, which is positive as it will push Indian companies to get a greater share of sustainability focused finance,” said Damandeep Singh, director, CDP India.

While all 37 Indian companies have been asked to furnish details of their impact on climate change, eight have been asked to give information on deforestation. A total of 15 companies have been asked to furnish information on water security status.

A few companies have been asked to furnish details on more than one environmental aspect.

“Climate change, water security and deforestation present material risks to investments, and companies that are failing to disclose their impact risk trailing behind their competitors in their access to capital… investors require decisive data that is consistent, comparable and comprehensive,” said Emily Kreps, global director of capital markets, CDP.

The most targeted industry for non-disclosure globally this year was the services industry (23 per cent of all companies), followed by manufacturing (16 per cent), materials (14 per cent), infrastructure (10 per cent) and fossil fuels (9 per cent).