If the top 25 oil and gas companies had been held accountable for their role in global warming in recent decades, they would still have made $10 trillion dollars in profit, according to the report published by think tank Climate Analytics.
The estimated damage caused by carbon emissions from the 25 companies cost $20 trillion from 1985 to 2018 — but during that time they earned $30 trillion, the report said.
The research looked at private oil and gas giants as well as state-owned companies. State-owned firms contribute to huge sovereign wealth funds in countries such as the United Arab Emirates, the host of this year’s COP28 talks.
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