Thirty-two companies in the fossil fuel sector are responsible for half of global greenhouse gas emissions, according to a report published on Wednesday – including Chevron and Exxon in the United States and BP in the United Kingdom, as well as state-owned companies in countries including Saudi Arabia, Russia and Iran.
With the use of oil, gas and coal by far the main cause of global warming, a report released by Carbon Majors on Wednesday highlights the role played by a small group of fossil fuel producers.
According to the study, 32 fossil fuel companies were responsible for half of global carbon dioxide emissions in 2024. The ranking is led by Saudi Arabia’s state-owned giant Aramco, followed by Russia’s Gazprom and the National Iranian Oil Company.
The report found that Saudi Aramco alone generated 1.7 billion tonnes of CO₂ in 2024, much of it linked to oil exports. ExxonMobil’s fossil fuel production accounted for a further 610 million tonnes.
Cop30 climate summit runs into overtime amid divisions over fossil fuels
State-owned companies
Overall, 17 of the top 20 highest-emitting companies are state-owned, with all 17controlled by governments that opposed a proposed global fossil fuel phaseout at the Cop 30 United Nations climate summit in December.
These include Saudi Arabia, Russia, China, Iran, the United Arab Emirates and India.
These findings follow a landmark ruling by the International Court of Justice last summer which established a legal link between fossil fuel production, global warming and its impacts.
Paris Agreement turns 10 as heat rises faster than global action
Meanwhile, emissions reductions again stalled in France and Germany in 2025, while a resurgence of coal-fired power generation in the US pushed emissions higher, reversing years of progress.
To meet the Paris Agreement goal of 1.5C, global emissions would need to fall by 45 percent by 2030 – a target that many experts now consider out of reach.
This article has been adapted from the original version in French.
