The world’s biggest companies have caused $28 trillion in climate damage, a new study estimates
Climate Change, Energy & PollutionSummary
A comprehensive study from Dartmouth College reveals that 111 of the world’s largest carbon-oriented corporations inflicted approximately $28 trillion in climate-related damage—more than half of the harm stems from 10 major fossil fuel providers, such as Saudi Aramco and Gazprom. This research marks a significant step towards holding companies financially accountable for their contributions to climate change, offering a clearer framework for tracing emissions and damages directly to polluters.
By running over 1,000 computer simulations, researchers determined that every 1% of greenhouse gas emissions since 1990 equates to approximately $502 billion in heat damage. This figure does not include costs associated with other extreme weather like droughts, floods, and hurricanes. These findings not only highlight the direct connection between corporate pollution and the increasing effects of climate change, but also lay the foundation for potential liability lawsuits aimed at holding major polluters responsible for their environmental impact.