In this piece, we will take a look at the fifteen most polluting companies in the world. For more companies, head on over to 5 Most Polluting Companies in the World.
Global warming is one of the most pressing challenges faced by the world today. Greenhouse gas emissions, an ugly consequence of the cost of industrialization and development, end up raising the planet's temperature. This, in turn, changes the climatic ecosystem and leads to more devastating events that end up disrupting lives.
According to the U.S. Environmental Protection Agency (EPA), Carbon Dioxide takes up the largest chunk of greenhouse gas emissions. Between 1900 and 2014, global carbon emissions jumped from roughly 500 million metric tons to a whopping 10,000 metric tons, for an absolutely shocking 1,900% increase. China and the U.S. have accounted for roughly half (45%) of these emissions, and the most polluting industries are energy production and agriculture and related sectors. However, the agriculture sector also removes Carbon Dioxide from the atmosphere, with an estimated 20% of its total emissions taken back.
A striking example of the consequences of global warming came in the form of floods in Pakistan earlier this year. Spurred by the rise in temperature and poor construction planning in the South East Asian country, the floods are estimated to have taken at least 1,700 lives and caused up to $40 billion in damage, alongside displacing another 7.9 million people.
Greenhouse gases make their mark on the planet by increasing global temperature, as they blanket the Earth and stop the heat from the Sun from leaving. Their impact is striking, as between 1880 and 1981, Earth's temperature increased by 0.14 degrees Fahrenheit during 100 years; but between then and 2022, it has increased by more than double, or by 0.32 Fahrenheit. Europe has seen the greatest temperature increase during this time period, with levels that match the Eastern coast of the United States.
Today's piece will focus on the firms that have emitted the largest amounts of carbon dioxide so far. The biggest contributors are oil companies, including Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (NYSE:CVX), and Saudi Arabian Oil Company (Saudi Aramco).
We consulted the Climate Accountability Institute's latest list of Carbon Majors, which lists down the firms that have emitted the most amount of Carbon Dioxide over a time period. While there are several lists covering different time periods, we have chosen the one which lists emissions between 1751 and 2018. This list was compiled in 2020 and it is the latest of its kind available right now.
Most Polluting Companies in the World
15. Kuwait Petroleum Corporation
Mt of Carbon Dioxide Emissions Between 1751 and 2018: 14,218
Kuwait Petroleum Corporation is a Kuwaiti state owned enterprise that is responsible for exploring and producing hydrocarbons and refining and transporting them. The firm is headquartered in Al Shuwaikh, Al Asimah, Kuwait.
Kuwait Petroleum Corporation has eight different subsidiaries, and it has thousands of gas stations in Europe, in countries such as Italy, Sweden, Belgium, and Denmark. The firm is known as Q8 in Europe, and it also has a refinery in Rotterdam. Kuwait Petroleum Corporation also sells oil to Asia at a discount.
Kuwait Petroleum Corporation's Carbon Dioxide emissions stood at 14,218 metric tons between 1751 and 2018.
Kuwait Petroleum Corporation, Chevron Corporation (NYSE:CVX), Exxon Mobil Corporation (NYSE:XOM), and Saudi Arabian Oil Company (Saudi Aramco). are some of the most polluting companies in the world.
14. TotalEnergies SE (OTCMKTS:TTFNF)
Mt of Carbon Dioxide Emissions Between 1751 and 2018: 14,958
TotalEnergies SE (OTCMKTS:TTFNF) is a French company that is headquartered in Courbevoie, France. The firm is an integrated oil and gas company, which implies that it is present in the entire oil supply chain - from extracting it to selling it to the consumer at the pump.
TotalEnergies SE (OTCMKTS:TTFNF) has close to 16,000 fuel stations and 25,000 electric vehicle charging points. The firm's oil reserves are massive, and as of December 2021, they stood at 12,062 million barrels of oil equivalent. TotalEnergies SE (OTCMKTS:TTFNF) also sells natural gas and liquefied natural gas.
In the 286 years that ended in 2018, TotalEnergies SE (OTCMKTS:TTFNF) emitted 14,958 metric tons of Carbon Dioxide.
13. Petróleos de Venezuela, S.A.
Mt of Carbon Dioxide Emissions Between 1751 and 2018: 16,264
Petróleos de Venezuela, S.A. is a Venezuelan state owned company. The company was set up in 1976 and it is headquartered in Maracaibo, Venezuela.
Petróleos de Venezuela, S.A. has been one of the most controversial oil companies in the world as well, since consistent political upheavals in Venezuela have seen the firm become a tool for siphoning off money. Estimates suggest that a whopping $300 billion has gone missing at the company since it was formed.
Since being formed, Petróleos de Venezuela, S.A. has emitted 16,264 metric tons of Carbon Dioxide.
12. PetroChina Company Limited (HKSE:0857.HK)
Mt of Carbon Dioxide Emissions Between 1751 and 2018: 16,515
PetroChina Company Limited (HKSE:0857.HK) is a subsidiary of the China National Petroleum Corporation. The firm has its own subsidiaries as well, and it was set up in 1999.
In addition to exploring and producing oil, PetroChina Company Limited (HKSE:0857.HK) also transports oil and gas. It is one of the largest midstream firms in the world, and has more than 25,000 kilometers of pipelines in its portfolio which are capable of transporting crude oil, natural gas, and refined products.
PetroChina Company Limited (HKSE:0857.HK)'s Carbon Dioxide emissions between 1751 and 2018 stand at 16,515 metric tons.
Mt of Carbon Dioxide Emissions Between 1751 and 2018: 16,547
Peabody Energy Corporation (NYSE:BTU) is an American company set up in 1853 and headquartered in St. Louis, Missouri. The firm is a coal miner with properties in the U.S., Taiwan, Japan, China, Australia, and other countries.
Peabody Energy Corporation (NYSE:BTU) has close to 20 mining operations all over the world, and as of December 2021, these had provided the firm with a massive 2.5 billion tons of proven and probable coal reserves. Its customers include power generation firms and steel companies.
Peabody Energy Corporation (NYSE:BTU)'s largest investor is Paul Singer's Elliott Management which owns 25 million shares that are worth $641 million. 38 out of the 920 hedge funds polled by Insider Monkey during this year's third quarter had also held a stake in the company.
Mt of Carbon Dioxide Emissions Between 1751 and 2018: 19,039
ConocoPhillips (NYSE:COP) is an American oil company that was set up in 1917 and headquartered in Houston, Texas. The firm markets and sells crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids.
ConocoPhillips (NYSE:COP) produced 1.6 million barrels of oil per day in 2021. It was also the first American oil company to join the U.S. Climate Action Partnership in 2007, which advised President Bush to place mandatory emissions caps to reduce greenhouse gasses in the atmosphere.
By the end of this year's third quarter, 64 out of the 920 hedge funds part of Insider Monkey's study had bought ConocoPhillips (NYSE:COP)'s shares.
ConocoPhillips (NYSE:COP)'s largest investor is Ken Fisher's Fisher Asset Management which owns 6.9 million shares that are worth $708 million.
9. Petróleos Mexicanos (Pemex)
Mt of Carbon Dioxide Emissions Between 1751 and 2018: 24,072
Petróleos Mexicanos (Pemex) is a Mexican state owned oil and gas company. The firm was set up in 1938 and is headquartered in Mexico City, Mexico.
Petróleos Mexicanos (Pemex) is one of the largest companies in Mexico, and its taxes comprise close to one third of all the taxes collected by the government.
As of 2018, Petróleos Mexicanos (Pemex) had emitted 24,072 metric tons of Carbon Dioxide.
8. Coal India Limited (NSE:COALINDIA.NS)
Mt of Carbon Dioxide Emissions Between 1751 and 2018: 24,341
Coal India Limited (NSE:COALINDIA.NS) is an Indian company that is headquartered in Kolkata. The firm produces and sells coal to steel manufacturers, power producers, cement companies, and other firms.
Coal India Limited (NSE:COALINDIA.NS)'s largest shareholder is the Indian government, and the firm saw its profit grow by 46% by the end of this year's first quarter. Coal India Limited (NSE:COALINDIA.NS) has been criticized for operating mines without clearance, but the firm says that it has submitted all the necessary paperwork.
Coal India Limited (NSE:COALINDIA.NS) had emitted 24,341 metric tons of Carbon Dioxide by 2018 end.
7. National Iranian Oil Company (NIOC)
Mt of Carbon Dioxide Emissions Between 1751 and 2018: 38,561
National Iranian Oil Company (NIOC) is an Iranian state owned oil company that traces its roots back to 1901. The firm is headquartered in Tehran, Iran.
National Iranian Oil Company (NIOC) lays claim to the oldest and the first large oil reserve located in the Middle East. Initially, it was a British company but was later on nationalized. The firm's predecessor employed Winston Churchill to lobby the British government on its behalf before Mr. Churchill became prime minister.
National Iranian Oil Company (NIOC) has emitted 38,561 metric tons of Carbon Dioxide between its founding and 2018.
Mt of Carbon Dioxide Emissions Between 1751 and 2018: 38,704
Shell plc (NYSE:SHEL) is a British company that was set up in 1907 and is headquartered in London, the United Kingdom. The firm is an integrated oil company since it both extracts oil and then sells it at the pump.
Shell plc (NYSE:SHEL) is one of the largest oil companies in the world, with more than 40,000 fuel stations in its portfolio. The firm also operates refineries and has operations in the Arctic, China, India, Ireland, Brunei, and North America among other countries.
39 out of the 920 hedge funds profiled by Insider Monkey for their Q3 2022 investments had bought Shell plc (NYSE:SHEL)'s shares.
Out of these, Ken Fisher's Fisher Asset Management is Shell plc (NYSE:SHEL)'s largest shareholder with a $1 billion stake that comes via 20 million shares.
Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (NYSE:CVX), and Saudi Arabian Oil Company (Saudi Aramco) are met by Shell plc (NYSE:SHEL) in our list of the world's largest polluting companies.
