Just 32 companies responsible for more than half of global carbon emissions in 2024

A sobering new analysis reveals that the world’s carbon emissions crisis is increasingly concentrated among a small group of corporate giants. According to the latest Carbon Majors report released Wednesday, just 32 companies were responsible for more than half of all global fossil fuel carbon dioxide emissions in 2024, highlighting how environmental damage is becoming concentrated among fewer but larger players.

The findings underscore a troubling trend: while climate scientists warn that global emissions must be dramatically reduced to prevent catastrophic warming, a shrinking number of major fossil fuel producers continue to drive emissions to record levels. This concentration of carbon responsibility among so few entities demonstrates how a relatively small group of decision-makers holds outsized influence over the planet’s climate trajectory.

Perhaps most concerning, the report by researcher Dana Drugmand found that many of these high-emitting companies are not just maintaining their current fossil fuel output—they’re actively expanding it. Even as the scientific consensus grows stronger about the urgent need for rapid decarbonization, these corporate entities continue to increase production while simultaneously working to block meaningful climate action and policy reforms.

The analysis adds weight to growing calls for increased corporate accountability in addressing climate change. With emissions traceable to such a concentrated group of producers, it becomes clearer that targeted action focusing on these major emitters could potentially have significant impact on global emission reduction efforts, making the role of corporate responsibility in climate solutions more crucial than ever.