Report Says 32 Companies Accounted for Half of Global CO₂ Emissions in 2024

Report Says 32 Companies Accounted for Half of Global CO₂ Emissions in 2024
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Just 32 fossil fuel companies were responsible for around half of global carbon dioxide emissions in 2024, according to a new Carbon Majors report published this week, as reported by The Guardian. The findings show a further concentration of emissions among a smaller group of major producers compared with the previous year.

The report identified Saudi Aramco as the largest state-owned emitter, producing about 1.7 billion tonnes of CO₂, while ExxonMobil was the biggest investor-owned contributor with roughly 610 million tonnes. If treated as countries, Aramco and ExxonMobil would rank among the world’s top carbon polluters, the analysis said.

State-owned companies accounted for 17 of the top 20 emitting producers, many of them controlled by governments that opposed a proposed fossil fuel phaseout at the Cop30 UN climate summit. The authors said this highlights political challenges to cutting emissions, despite broad international support for stronger climate action.

The report noted that global emissions have continued to rise since the Covid-19 pandemic, putting the Paris Agreement’s 1.5°C target increasingly out of reach. Researchers said emissions data is now being used to support legal cases, policy measures and accountability efforts targeting major fossil fuel producers worldwide.