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Are Just 100 Companies Responsible for 71% of Carbon Emissions?

Examining the claim that a small group of companies drive the majority of global carbon emissions, and what it really means for climate action.

By Medha deb

Created on Sep 27, 2025

Examining the claim that a small group of companies drive the majority of global carbon emissions, and what it really means for climate action.

The idea that only 100 companies are behind 71% of the world’s carbon emissions is both striking and often cited. This claim has gained enormous traction in environmental discussions, frequently framing debates about responsibility and action on climate change. But what does this statistic mean, how was it calculated, and does it fairly capture the reality of climate accountability? This article examines the origins of the claim, its scientific basis, common misconceptions, and what it means for global efforts to reduce greenhouse gases (GHGs).

Where Did the “100 Companies” Statistic Come From?

This statistic originates from the Carbon Majors Report released by the CDP (formerly known as the Carbon Disclosure Project) in partnership with the Climate Accountability Institute. The research involved a comprehensive analysis of historic company-related GHG emissions, focusing primarily on fossil fuel producers from 1988 onward – the year when anthropogenic (human-induced) climate change came under worldwide recognition with the establishment of the Intergovernmental Panel on Climate Change (IPCC).

The Carbon Majors Database is considered one of the most comprehensive datasets tracing company-level emissions.
The research identifies emissions from both direct operations (Scope 1) and emissions from the use of sold products, like combusted fossil fuels (Scope 3).
Findings showed that just 100 active fossil fuel producers – including ExxonMobil, Shell, BP, Chevron, Gazprom, and others – were linked to 71% of industrial greenhouse gases emitted since 1988.

What Emissions Are Counted?

To understand the 71% claim, it is important to clarify what is meant by “emissions.” The Carbon Majors methodology includes:

Scope 1 emissions: Direct emissions from company operations, such as extracting, refining, and transporting fossil fuels.
Scope 3 emissions: Indirect emissions from the eventual use of companies’ products (for instance, cars burning gasoline or coal-fired power plants).

Ninety percent of the emissions in the report fall into Scope 3 – meaning they are generated not by company activities directly, but by consumers and industries at the point of use.

Which Companies Are On the List?

The companies named in the report are predominantly fossil fuel producers and include both investor-owned and state-owned enterprises. Some of the highest emitters between 1988 and 2015 were:

China (Coal)
Saudi Aramco
Gazprom
National Iranian Oil Co.
ExxonMobil
Shell
BP
Chevron

It’s noteworthy that many of the highest emitting entities are not private companies, but state-owned – meaning their ownership and control rest with governments.

Understanding the Data: What Does 71% Really Mean?

While the claim is compelling, there are crucial nuances:

Nearly a third (32%) of these emissions are from publicly-listed, investor-owned companies.
The remainder is split between state-owned (59%) and private investment (9%) entities.

Most importantly, the 71% figure is not for all global emissions. It refers specifically to industrial GHGs (such as energy generation, industry, and fossil fuel use), not sectors like agriculture or deforestation.

Table: Emission Types Covered in the Carbon Majors Report

Category	Included	Excluded
Fossil Fuel Production & Use	Included	–
Scope 3 Emissions	Included	–
Agricultural Emissions	–	Excluded
Land-Use Change / Deforestation	–	Excluded

Does This Mean Corporations Alone Are to Blame?

The popularity of the “100 companies” claim rests on the idea that large corporations are the principal drivers of climate change. However, several caveats apply:

Scope 3 emissions account for the vast majority – these emissions ultimately result from consumer demand for fossil fuels.
Companies act as suppliers, but it is end-users (people, industries, governments) who burn the fuel, generating emissions.
Assigning blame to producers without acknowledging the role of global consumption patterns ignores the complex web of responsibility.

How Has the Statistic Been Misunderstood or Misused?

The headline statistic has sometimes been used to suggest that individual or governmental action is less important than regulating a handful of corporations. Critics highlight that:

The data involves estimates and self-reporting, especially from companies or governments with incomplete records.
The claim can obscure the role of national governments (especially those controlling state-owned energy companies) and global consumer demand.
Reducing emissions requires systemic change involving corporations, governments, and individual behaviors together.

The Role of Investors and Policy

The Carbon Majors Report also draws attention to the significant role of investors and policy makers:

Investors in major fossil fuel companies “own” a sizeable share of cumulative emissions and have leverage to encourage climate action.
Shareholder activism has begun to shift corporate strategies, with some European oil giants ramping up investment in renewables, while others lag behind.
Effective climate policy must address both supply (corporate production) and demand (consumer use).

Individuals, Systems, and Shared Responsibility

While systemic change is essential, individual actions are part of the equation. Ordinary people, especially in high-consuming nations, influence emissions through everyday decisions:

Transportation choices (car travel, flights, public transport)
Energy consumption (renewable electricity, efficiency, heating/cooling)
Product purchases (food, electronics, clothing – especially if produced using fossil fuels)

Carbon inequality is significant: some populations and individuals contribute far more than others based on income, lifestyle, and place of residence.

What About State-Owned Companies?

Eight out of the ten companies with the highest cumulative emissions are state-owned. Changing their practices requires:

Political will
International coordination (such as global treaties like the Paris Agreement)
Technology transfer and climate finance for emerging economies

State-owned giants in countries like China, Saudi Arabia, and Russia dwarf the emissions of even the largest private energy majors.

Limitations and Critiques of the Data

Estimation and Uncertainty: Some figures rely on estimates due to incomplete reporting, particularly from countries or companies with less transparency.
Timeframe: The 71% figure covers the period from 1988 to 2015. Emission shares have changed over time.
Accountability: The allocation of Scope 3 emissions to producers is controversial; alternative approaches emphasize shared responsibility along the value chain.
Not All Emissions Types Included: The data excludes major sources like agriculture and deforestation.

Looking to the Future

The report from CDP underscores how much influence major fossil fuel producers possess, both positively and negatively. Rapid progress hinges on big shifts from these major players, together with:

Divestment and investment in clean energy technologies
Regulatory changes to limit fossil fuel extraction and incentivize renewables
Global collaboration to address state-owned emitters and nations entirely dependent on oil and coal revenues
Individual choices aggregating to national and global trends

Frequently Asked Questions

Q: Are these companies directly releasing 71% of emissions?

A: No, most of the emissions assigned to the 100 companies are Scope 3 emissions, released when end-users burn the fuel sold by these producers. The company mines, extracts, or sells fossil fuels, but emissions happen during consumption by others.

Q: Does this statistic mean individuals have little responsibility?

A: Not necessarily. While supply comes from companies, emissions are ultimately a response to global demand. Reducing dependence on fossil-fuel based products and advocating for policy and industry reform remain important for individuals.

Q: Are most of the highest-emitting companies private corporations?

A: No. Many of the largest emitters are state-owned enterprises in countries like China, Russia, and Iran.

Q: Do these numbers include emissions from agriculture and deforestation?

A: No, the Carbon Majors study is focused on industrial emissions from fossil fuel production and use; other sources, such as agriculture, are not included in this 71% figure.

Q: What can policymakers do in response?

A: Governments can regulate fossil fuel production, incentivize renewables, support energy efficiency, and implement carbon pricing. International agreements are also crucial, especially for state-dominated sectors.

Key Takeaways

The claim that “100 companies are responsible for 71% of global emissions” is rooted in credible analysis but focuses on industrial emissions from 1988–2015.
The majority of these emissions are linked to the use of fossil fuels sold by these companies (Scope 3), not their direct operations.
Many top emitters are state-owned, complicating the picture of corporate versus governmental responsibility.
Tackling climate change requires coordinated action: government policy, industrial reform, investor pressure, and conscious consumer choices.

References

Author

medha deb

Medha Deb is an editor with a master's degree in Applied Linguistics from the University of Hyderabad. She believes that her qualification has helped her develop a deep understanding of language and its application in various contexts.

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