An anonymous reader quotes a report from Inside Climate News: *Just 32 companies accounted for over half of global fossil carbon emissions in 2024, according to a report published Wednesday by the U.K.-based think tank InfluenceMap. That is down from 36 companies responsible for half the global CO2 emissions in 2023, and 38 companies five years ago. The analysis is the latest update to the Carbon Majors database, which tracks the world’s largest oil, gas, coal and cement producers and uses production data to calculate the carbon emissions from each entity’s production. The database, first developed by researcher Richard Heede and now hosted by InfluenceMap, quantifies current and historical emissions attributable to nearly 180 companies and provides annual updates. It is the only database of its kind tracking corporate-generated carbon emissions dating back to the start of the Industrial Revolution, research that’s being used in efforts to hold major polluters accountable for climate harms.

Despite dire warnings from scientists about the consequences of accelerating climate change, fossil fuel production is continuing apace. Last year, fossil fuel CO2 emissions reached a record high, topping 38 billion metric tons. In 2024 these emissions were 37.4 billion metric tons – up 0.8 percent from 2023 – and traceable to 166 oil, gas, coal and cement producers, according to the report. Much of the global carbon emissions in 2024 came from state-owned entities, which represented 16 of the top 20 emitters. The five largest emitters overall – Saudi Arabia’s Aramco, Coal India, China’s CHN Energy, National Iranian Oil Co. and Russia’s Gazprom – were all state-controlled, and accounted for 18 percent of the total fossil CO2 emissions in 2024.

ExxonMobil, Chevron, Shell, ConocoPhillips and BP – the top five emitting investor-owned companies – together were responsible for 5.5 percent of the total emissions in that year. Historically, ExxonMobil and Chevron rank in the top five for fossil carbon emissions generated from 1854 through 2024, accounting for 2.79 percent and 3.08 percent of overall carbon pollution, respectively. According to the analysis, the 178 entities in the database have generated 70 percent of fossil CO2 emissions since the start of the Industrial Revolution, and just 22 entities are responsible for one-third of these emissions.

• "Each year, global emissions become increasingly concentrated among a shrinking group of high-emitting producers, while overall production continues to grow. Simultaneously, these heavy emitters continue to use lobbying to obstruct a transition that the scientific community has known for decades is essential," said Emmett Connaire, senior analyst at InfluenceMap. The findings of the new analysis, he added, "underscore the growing importance of this kind of rigorous evidence in efforts to determine accountability for climate-related losses."