A new study estimates the world's largest corporations caused $28 trillion in climate damage, aiming to hold companies financially accountable. Over half the damage came from ten fossil fuel providers, including Saudi Aramco and Gazprom. This figure is comparable to the US's annual economic output.
The study, published in Nature, calculated that Saudi Aramco and Gazprom each caused over $2 trillion in heat damage. Researchers traced emissions from 111 companies, using simulations to link emissions to temperature changes.
The study aims to establish the causal links behind climate change accountability. Researchers determined the impact of each company's pollution on global temperatures and extreme heat events.
The findings suggest that the scientific basis for denying responsibility is diminishing. The study's methodology is considered robust and could be adopted by other groups. The scale of climate damages has reached a point where a single company's product can cause billions in damage annually.
10 Comments
Rotfront
If we manage to hold these companies accountable, they will just pass the costs onto consumers.
Karamba
Great to see research backing what many of us have long suspected about fossil fuel companies!
Matzomaster
Climate change is a natural phenomenon; it's arrogant to think companies are solely responsible.
Karamba
We should focus on actual solutions, not just assigning blame.
Matzomaster
This study is biased and ignores other factors contributing to climate damage.
Raphael
Corporate accountability is crucial if we want to avert the worst impacts of climate change.
Michelangelo
Finally, some accountability for the damage these companies have caused!
Raphael
I appreciate the rigorous methodology behind this study; it makes the case for accountability stronger!
Michelangelo
It's about time these corporations are held responsible for their actions!
Leonardo
This is a turning point for climate accountability; we need more studies like this!