China’s biggest companies have more sway over warming temperatures than entire countries.

The latest post by Bloomberg on Twitter states,

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China’s biggest companies have more sway over warming temperatures than entire countries.

Yet little is known about the carbon emissions from these state-run giants.

Until now. trib.al/xS5mdHO via

@bbgvisualdata

bloomberg.com

These Companies Pollute the World More Than Entire Nations

Some Chinese companies single-handedly create more carbon emissions than entire countries.

Source: Bloomberg on Twitter, 16/12/2021

(Energy Monitor)- China’s growth has pulled nearly 100 million people out of poverty over the last eight years, says the Chinese Communist Party, but this socio-economic progress has come at great environmental cost.

Carbon emissions have quadrupled over the past two decades, while emissions in the year to March 2021 grew nearly 7% year-on-year – the fastest recorded growth since 2012 – and that in spite of a global pandemic. China is now responsible for 27% of the world’s carbon emissions.

Much of this emissions growth has been driven by coal, which generates nearly 60% of the country’s electricity.

China’s emissions are so immense that individual companies produce more than many countries, shows a recent analysis by Lauri Myllyvirta at the Centre for Research on Energy and Clean Air (CREA).

CREA based its estimates on publicly available data drawn from financial statements and company sustainability reports.

The estimates cover scope 1, 2 and 3 emissions, which means they include both direct emissions from operations and emissions produced along the supply chain or from the use of end products such as oil.

The oil and gas behemoth PetroChina produces similar emissions to Germany, the fourth-largest economy in the world. China National Materials Group, a state-controlled construction company, produces emissions similar to Pakistan, with its population of 220 million people.

(Bloomberg)-The world’s top five polluters were responsible for 60% of global emissions in 2019. China alone generated about the same amount of CO₂ as the next four countries combined. And its carbon output is still rising every year.

China’s emissions are so vast that its biggest companies, few of which are household names, create more pollution than entire nations.

China Baowu, the world’s top steelmaker, put more CO₂ into the atmosphere last year than Pakistan.

Take state-owned oil giant Sinopec Group. One of its subsidiaries, China Petroleum & Chemical, contributed more to global warming last year than Canada, itself an emissions heavyweight with the 11th-most CO₂ among nations.

The country has set a net-zero goal for 2060, with an interim target of emissions peaking by 2030.

Sources: Energy Monitor, Bloomberg, 16/12/2021

Last Updated on 16.12.2021 by iskova