10 finance firms effectively own half of all future carbon emissions

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An analysis of the 200 largest fossil fuel companies suggests that just 10 shareholders could influence the fate of nearly half of the world’s remaining fossil fuels

Environment



6 August 2022

The Marathon Petroleum Corp’s Los Angeles Refinery in Carson, California

Robyn Beck/AFP via Getty Images

Just 10 financial institutions own nearly half of the unburned fossil fuels from the world’s largest fossil fuel companies.

The Carbon Underground 200 is a list of the 200 largest fossil fuel companies, created by FFI Solutions, a sustainable investing firm. Combined, the companies own 98 per cent of known fossil fuel reserves, an amount that would emit 674 gigatons of carbon if burned – nearly triple the global carbon emissions limits needed to constrain global warming within the 1.5°C …

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