Half of the global carbon emissions made by a few financial actors

Just ten financial actors pollute almost half of all global carbon emissions but could have a decisive role in helping decarbonise the planet.

They hold a massive amount of wealth which unfortunately contributes greatly to climate change.

These ten actors, who have the most influence on the fossil fuel economy, own 49.5% of global carbon emissions from the world’s largest energy firms. They include investment advisors, governments, and sovereign wealth funds from around the world.

The study, conducted by the University of Waterloo, University of Otago, and Banque de France, outlines vital ways these 10 governments and private investment advisors can make changes that will have a transformative impact in the fight against climate change.

The researchers used a novel scoring mechanism blending the financial actor’s fossil fuel holdings and investment in the world’s 200 largest fossil fuel firms to generate this list.

It is generally higher-income nations that have worsened climate change through the excessive output of carbon emissions and destruction of natural carbon sinks – to which, less economically developed nations have been bearing the brunt.

However, the effects of climate change have been increasing in more economically developed nations recently also.

deforestation in less economically developed countries, contributing to climate change with carbon emissions. Less economically developed nations have already seen climate change’s effects.