Unite members take part in a day of action for Energy4All in Bradford, April 1, 2025Photo: Neil Terry Photography
Energy giants rake in half a trillion pounds out of people’s misery, campaigners warn
GREEDY energy giants have raked in half a trillion pounds in profits since 2020, according to new data released today.
The End Fuel Poverty Coalition examined the accounts of 20 firms that produce, supply and distribute energy, and discovered that they pocketed more than £514 billion over the last five years.
Among the top earners were oil titans Equinor and Shell, which saw their profits swell to £140bn and £91.6bn while millions of people struggled with soaring costs.
Warm This Winter spokesperson Caroline Simpson said: “It’s incomprehensible in so many ways and plain wrong that a mere 20 companies have made so much money out of people’s misery.
“The industry can spare a few of their many billions to bring down bills, pay for energy efficient homes and switch from oil and gas to save the planet.”
Households are set to be hit by even higher bills as the Ofgem price cap rises by 6.4 per cent this week.
The average bill is expected to rise by £111 to an average of £1,849 a year.
Companies and states most responsible for climate change are also those working hardest to prevent climate action, new Carbon Majors report finds.
Half of the world’s carbon dioxide emissions in 2023 came from just three dozen companies, according to a new report released today by the Carbon Majors project, with the list dominated by coal, cement, and oil producers.
Saudi Arabia’s Saudi Aramco, the year’s worst offender, drove 4.4 percent of the world’s carbon dioxide pollution alone in 2023, the report found.
Five publicly-traded oil companies — ExxonMobil, Chevron, Shell, TotalEnergies, and BP — combined to produce an additional 4.9 percent of the year’s global carbon dioxide emissions from fossil fuels, the report adds.
The Carbon Majors database builds on the innovative work published by researcher Richard Heede of the Climate Accountability Institute (CAI) begun in 2013. For the first time, instead of attributing the build-up of industrial carbon dioxide and methane emissions to each of the world’s nations, Heede managed to trace those emissions to 90 specific “carbon major” companies. Last year, the nonprofit think tank InfluenceMap collaborated with CAI to produce major updates to the database — and today’s report marks the first annual update to that report, incorporating global data from 2023.
The year’s top carbon polluters were a mix of investor-owned and state-owned or national companies — but they have one thing in common.
“They’re some of the most obstructive actors towards climate policy,” Emmett Connaire, a senior analyst at the Carbon Majors project and one of the authors of the report, told DeSmog.
“I think it kind of kills the argument from industry that they’re not responsible for their CO2 emissions because we need fossil fuels to grow,” Connaire said, “when they’re the most obstructive and trying to keep up the demand for their products in the face of the overwhelming scientific opinion.”
Eight of the nine public companies most responsible for carbon emissions in 2023 were “highly active or strategic” in their climate lobbying, the report notes. And their lobbying efforts took aim at regulating climate-altering pollution or sought to impede the energy transition.“ Of these 9 companies, 5 score a D or below, indicating unsupportive positions on climate policy,” the new report finds, citing data from InfluenceMap’s LobbyMap database, which grades companies based on their alignment with the Paris Agreement. “The remaining 4 score only slightly higher at C-.”
InfluenceMap gave climate policy lobbying scores to the top 10 investor-owned companies, all oil, gas, and coal firms. Credit: Carbon Majors 2025 report
None of the five top oil companies named in the report immediately responded to a request for comment from DeSmog.
Investor-owned companies aren’t the only ones actively fighting to prevent climate action, the Carbon Majors report notes.
“State-owned companies are even more oppositional to climate regulation globally according to LobbyMap research,” the report finds, listing Saudi Aramco, Russia’s Gazprom, Mexico’s Pemex, and China’s CHN Energy among the worst actors.
“The ‘Carbon Majors’ are keeping the world hooked on fossil fuels with no plans to slow production,” former United Nations climate chief and Paris Agreement architect Christiana Figueres said in a response accompanying the report. “While states drag their heels on their Paris Agreement commitments, state-owned companies are dominating global emissions — ignoring the desperate needs of their citizens.”
A sizable majority — 80 percent — of the year’s 20 worst offenders are state-owned, the report found.
State-owned fossil fuel companies dominated global climate emissions in 2023, compared to public companies, the Carbon Majors report noted. Credit: Carbon Majors report 2025
Throughout history, responsibility for driving climate change is concentrated among a strikingly small number of corporations, the report suggests.
Two-thirds of all fossil fuel and cement emissions worldwide from 1750 through 2023 can be traced to just 181 entities, the report finds, adding that one-third of emissions came from just 26 companies.
These findings may have significant legal consequences. During 2024, New York state and Vermont both enacted “Climate Superfund” laws that aim to hold fossil fuel producers and oil refiners responsible for the damage done by their climate-altering products — and the Carbon Majors database is a proposed tool to assess companies’ relative liabilities, according to InfluenceMap. Its earlier findings have been cited in civil lawsuits brought by U.S. cities and counties against fossil fuel producers and an inquiry in the Philippines (which has seen some of the strongest typhoons in recorded history) into corporate responsibility for human rights violations.
The report approaches companies’ contributions to climate change based on production data — meaning that it focuses on the companies that do the drilling and mining (which helps avoid double-counting, Connaire told DeSmog). Those production figures are self-reported by companies but are widely used by governments to assess taxes and by investors in public companies. That methodology means that, for example, natural gas pipeline companies and natural gas utilities aren’t included in the report’s rankings.
Nonetheless, natural gas producers figure among the report’s list of all-time top polluters. That includes the former Chesapeake Energy, which first rose to prominence — and some notoriety — during the shale gas fracking boom only to implode into bankruptcy in 2020. Chesapeake later emerged from bankruptcy and has since merged into the newly formed Expand Energy.
As the Carbon Majors database traces emissions throughout history, it accounts for the effects of mergers and acquisitions in the tumultuous oil industry, known for its booms and busts. “For example, the multiple smaller companies into which the Standard Oil Trust was broken up have evolved to become some of the most recognizable companies in the database today,” the report notes. “Some are direct descendants of Standard Oil, like ExxonMobil, with both Exxon and Mobil as descendants separately, and Chevron. Others have resulted from mergers with descendants of Standard Oil, such as BP and ConocoPhillips.”
The Carbon Majors database traces the historical cumulative emissions of the top individual entities, such as Chevron or the former Soviet Union, from 1854 through 2023. Credit: Carbon Majors report 2025
It also calls attention to the importance of coal pollution — not just historically, but also in 2023.
“In 2023, coal remained the largest source of emissions, contributing 41.1 percent of emissions in the database,” the new report finds, “continuing a steady increase since 2016.”
Emissions from the cement industry — also a major driver of carbon pollution — increased significantly in 2023, rising 6.5 percent year-over-year, which the Carbon Majors report noted was “the largest relative rise” found. “Four of the five companies with the greatest relative increases in emissions in 2023 were cement companies — Holcim Group, Heidelberg Materials, UltraTech Cement, and CRH — with cement emissions seeing the largest relative rise among the four commodity types.”
Cement producers aren’t the only ones, however. In fact, emissions from most of the top emitters rose in 2023, the Carbon Majors report found.
“It is truly alarming that the largest fossil fuel companies continue to increase their emissions in the face of worsening natural disasters caused by climate change, disregarding scientific evidence that these emissions are harming us all,” said Tzeporah Berman, founder of the Fossil Fuel Non-Proliferation Treaty Initiative. “It is clearer than ever that dirty private companies, driven by profits and business as usual, will never choose to self-regulate. Governments around the world must use their power to end fossil fuel expansion and transition their economies before fossil fuel companies destroy the planet.”
Greenpeace activists display a billboard during a protest outside Shell headquarters on July 27, 2023 in London. (Photo: Handout/Chris J. Ratcliffe for Greenpeace via Getty Images)Neo-Fascist Climate Science Denier Donald Trump says Burn, Baby, Burn.
Labour’s new ambassador to the U.S. founded Global Counsel, a firm with major fossil fuel clients.
Labour’s top diplomat to Donald Trump’s United States leads a public affairs firm that has attempted to influence the new UK government on behalf of the oil and gas giant Shell, and the coal mining company Anglo American.
Peter Mandelson – who was a Cabinet minister under former Labour prime ministers Tony Blair and Gordon Brown – has been accepted as the UK’s ambassador to the U.S. by Trump’s new administration.
In addition to his new diplomatic role, which he will formally begin in February, Mandelson is president and chair of Global Counsel, a London-based political consultancy and lobbying organisation. He will retain shares in the company even after taking up his new position in Washington DC, the Financial Times has reported.
According to official records, after July’s general election Global Counsel lobbied the new Labour government on behalf of Shell, one of the world’s most polluting companies.
Shell is still committed to exploring for new sources of oil and gas and does not have any plans to reduce the overall amount it produces by 2030, in contravention of climate science. In 2021, the District Court of the Hague found that the total CO2 emissions of the Shell group exceeded the emissions of many states, including the Netherlands.
Lobbyists must declare if they have attempted to arrange meetings or influence ministers or senior civil servants on behalf of their clients. However, the contents of these discussions are not publicly available.
Global Counsel seemingly has close ties to the Labour Party. Prior to the 4 July election, the company supplied a staff member to Tulip Siddiq, who served as financial secretary to the Treasury until 14 January, a donation in kind worth £35,835, according to the register of MPs’ financial interests.
Global Counsel is one of seven consultancies with a history of donating to Labour that have lobbied on behalf of fossil fuel clients since July’s election.
The client list at Mandelson’s lobbying firm also includes Anglo American, a British mining multinational which is a major producer of coal, and U.S. multinational bank JP Morgan, which has financed $430 billion in fossil fuel projects since the 2015 Paris Agreement, including $40 billion in 2023, according to the NGO Banktrack.
Another client, UK bank Standard Chartered, has financed $71 billion in fossil fuel projects in the same period, including $7 billion in 2023.
Other Global Counsel clients include food and beverage giant Nestle, which has emissions three times the size of its home country Switzerland, and the controversial tech firm Palantir, founded by Trump ally Peter Thiel.
Mandelson, who called Trump “reckless and dangerous to the world” in 2019, this week told Fox News his previous remarks were “ill-judged and wrong”, and that he has a “fresh respect” for the new U.S. president.
Global Counsel, and the Cabinet Office were approached for comment.
Transatlantic Ties
Mandelson’s appointment comes at a crucial time for climate policy, with a transatlantic network of political actors working increasingly closely to derail global action to achieve net zero emissions.
Since his inauguration last week, President Trump has removed the U.S. from the flagship 2015 Paris climate accord, banned offshore wind farms, and declared a “national energy emergency” in order to open new oil and gas projects.
His plans could add an extra four billion tonnes of carbon dioxide equivalent to U.S. emissions by 2030, according to the climate publication Carbon Brief.
Trump received more than $32 million from the oil and gas sector for his 2024 campaign. The fossil fuel industry spent $445 million on political donations, lobbying and advertising between January 2023 and November 2024 to influence Trump and Congress, according to the green advocacy group Climate Power.
As DeSmog revealed last month, Mandelson’s counterpart, Trump’s ambassador to the UK Warren Stephens, runs a firm with investments in several oil and gas companies, including one wholly owned by his family business.
The UK government is committed to removing fossil fuels from the UK’s power system by 2030, but this week approved a third runway at Heathrow Airport – the second most polluting airport in the world, according to a 2021 study – and pledged to remove environmental regulations on new building projects.
According to the UN’s Intergovernmental Panel on Climate Change (IPCC), the world’s foremost climate science body, the next few years are crucial if we want to limit the worst effects of global warming, including drought, flooding, and heat waves.
To keep within the 1.5C warming limit set by the Paris Agreement, the IPCC says that emissions need to be reduced by at least 43 percent by 2030 compared to 2019 levels, and at least 60 percent by 2035.
A court has ruled that consent for two new Scottish oil and gas fields was granted unlawfully and their owners must seek fresh approval from the UK government before drilling can begin.
The written judgement on the Rosebank and Jackdaw fields came after a case brought by environmental campaigners, Uplift and Greenpeace, at the Court of Session in Edinburgh.
In his judgement, Lord Ericht said a more detailed assessment of the fields’ environmental impact was required, taking into account the effect on the climate of burning any fossil fuels extracted.
He said work on both fields could continue while the new information was gathered but no oil and gas could be extracted unless fresh approval was granted.
Permission for the Rosebank oil development, 80 miles west of Shetland in the North Atlantic, was granted in autumn 2023.
In a 57-page judgement, Lord Ericht wrote that there was a public interest in having the decision “remade on a lawful basis” because of the effects of climate change – which he said outweighed the interests of the developers.
Greenpeace activists board a Shell platform headed toward the North Sea on February 6, 2023. (Photo: Lou Benoist/AFP via Getty Images)
“Shell thought suing us for millions over a peaceful protest would intimidate us, but this case became a PR millstone tied around its neck,” said the co-executive director of Greenpeace U.K.
The United Kingdom-based oil giant Shell agreed Tuesday to settle a major lawsuit the company brought against Greenpeace after activists from the group boarded and occupied a company oil platform last year to protest fossil fuel expansion.
Greenpeace said in a statement that as part of the settlement, it agreed to donate £300,000—roughly $382,000—to the Royal National Lifeboat Institution, a charity that helps save lives at sea, but will pay nothing to Shell and accept no liability. The donation represents a fraction of the over $11 million in damages and legal costs defendants faced, the group said.
The Greenpeace defendants have also “agreed to avoid protesting for a period at four Shell sites in the northern North Sea.”
“Shell thought suing us for millions over a peaceful protest would intimidate us, but this case became a PR millstone tied around its neck,” said Areeba Hamid, co-executive director of Greenpeace U.K. “The public backlash against its bullying tactics made it back down and settle out of court.”
“This settlement shows that people power works. Thousands of ordinary people across the country backed our fight against Shell and their support means we stay independent and can keep holding Big Oil to account,” Hamid added. “This legal battle might be over, but Big Oil’s dirty tricks aren’t going away. With Greenpeace facing further legal battles around the world, we won’t stop campaigning until the fossil fuel industry stops drilling and starts paying for the damage it is causing to people and planet.”
“These aggressive legal tactics, the huge sums of money, and attempts to block the right to protest pose a massive threat.”
Shell brought the case, which Greenpeace characterized as a “textbook” strategic lawsuit against public participation (SLAPP), in February 2023 and sought $1 million in damages from activists who boarded a Shell-contracted ship carrying equipment to drill for oil in the North Sea.
“When the protest ended, the only damage Shell could find was a padlock which, they alleged, our activists broke. That’s it,” Greenpeace U.K. said Tuesday. “Yet they came after us with a million-dollar lawsuit, which they justified for their spending on safety.”
The group, which warned that the case had dire implications for the right to protest, credited a “sustained, year-long campaign against the suit” for forcing the oil behemoth to back down. The campaign, according to Greenpeace, “turned the legal move into a PR embarrassment for Shell.”
“The case was dubbed the ‘Cousin Greg’ lawsuit by Forbes after a scene in the Emmy-awarded drama Succession, in which the hapless character threatens to sue Greenpeace to universal dismay,” the environmental group noted Tuesday.
Greenpeace is currently facing several other SLAPP suits, including one brought by Energy Transfer, majority-owner of the Dakota Access pipeline. The group said Tuesday that the Energy Transfer suit “threatens the very existence of Greenpeace in the U.S.”
“These aggressive legal tactics, the huge sums of money, and attempts to block the right to protest pose a massive threat. It could stop Greenpeace being able to make a real difference on the things that matter most,” the organization said Tuesday. “It’s part of a growing trend by powerful corporations and governments to crush peaceful protest—using draconian laws or intimidation lawsuits like this.”
“It seeks to silence the people most impacted by the climate crisis. This threatens the global fight for climate justice,” the group added. “We won’t give up. This is Shell versus all of us.”
Experienced climbers scale a rock face near the historic Dumbarton castle in Glasgow, releasing a banner that reads “Climate on a Cliff Edge.” One activist, dressed as a globe, symbolically looms near the edge, while another plays the bagpipes on the shores below. | Photo courtesy of Extinction Rebellion and Mark Richards
