According to a new report for global warming, more than 70 percent of the greenhouse gases emitted since 1988 are caused by the work of only 100 companies. Carbon Majors Report underscores how much the few companies that produce fossil fuels have an impact on carbon emissions.
Traditionally large-scale greenhouse gas emissions data are collected at national level.However, this report focuses only on fossil fuel producers. The report, created using the public release figures, shows how the impact of companies and investors could be in preventing global warming.
Destruction of species may lead to famine
According to the report, more than half of the industrial greenhouse gas emissions since 1988 have been generated through 25 companies and government agencies. Past reports can also be verified by examining the extent to which these organizations contribute to climate change.
Major oil producers like ExxonMobil, Shell, BP and Chevron are among the top contributors to carbon emissions. If fossil fuels continue to evolve at this rate over the next 28 years, as in 28 years past, a 4-degree increase in average temperatures at the end of the century will be inevitable. This can cause many animal and plant species to disappear and cause food shortages .
Common effort required
Of course, these companies do not contribute to global warming because they use the oil they are leaving. Fossil fuels sold to billions of customers cause more carbon emissions every day. However, serious investment can be made in preventing global warming by investing in renewable energy sources instead of fossil fuels.
Companies are also beginning to take this step as they are aware of the necessary changes. Shell has invested $ 1.7 billion in renewable energy in 2015. Approximately 100 companies, including Apple, Facebook, Google and Ikea, continue to work on completely renewable energy under the RE100 initiative . Automobile manufacturer Volvo also announced that it will now only produce hybrid and electric vehicles from 2019 onwards.
All these changes aim to reduce the use of fossil fuels in the future and thus carbon emissions. The data in the reports highlight the importance of the policies of large corporations and governments to achieve these goals.