111 Firms Tied to $28T in Climate Damages

A Dartmouth College study published in Nature estimates that 111 of the world's largest companies, mostly fossil fuel producers, have caused $28 trillion in climate-related damages since the early 1990s. The ten top contributors—Saudi Aramco, Gazprom, Chevron, ExxonMobil, BP, Shell, National Iranian Oil Co., Pemex, Coal India, and the British Coal Corporation—are responsible for more than half of these damages, with Saudi Aramco and Gazprom each linked to over $2 trillion in losses. The study uses advances in climate attribution science to directly connect individual corporate emissions to the economic impacts of extreme weather events such as wildfires, floods, droughts, and heat waves. This research aims to strengthen legal efforts to hold major polluters accountable, mirroring previous actions against tobacco companies. Currently, 68 climate damage lawsuits have been filed worldwide, with more than half in the United States. The findings are expected to support ongoing and future litigation by clarifying the causal responsibility of major emitters.