What’s Really Behind Corporate Promises on Climate Change?
New York TimesMay 12, 2021
Report: 80% of CO2 Emissions Linked to Just 57 Companies
The Facts
According to the Carbon Majors report published Thursday, just 57 fossil fuel and cement producers have been linked to 80% of the world's carbon dioxide (CO2) emissions since 2016.
While many governments and companies set strict emissions targets to combat climate change, a small group of emitters produced and burned more fossil fuels between 2016 and 2022, raising CO2 emissions.
The Spin
Narrative A
It's shocking that so few powerful corporations and multinationals are the leading drivers of the global climate crisis. The cohort continues to profit from extracting fossil fuels when it should be slowing down production. This report's findings will allow international institutions to hold the culprits accountable for climate damages.
Narrative B
This report is sensationalizing a picture that could change in the future. Companies worldwide have been taking voluntary action to meet net zero emissions targets and invest in renewable energy, including the world's biggest oil and gas producers agreeing to cut methane emissions from their wells and drilling by more than 80% by 2030. This is all happening despite the debate on climate change not being settled.
Nerd narrative
There's a 50% chance that at least 80.8% of the world's primary energy will come from fossil fuels in 2025, according to the Metaculus prediction community.