The Polluter Elite Database
Dario Kenner, June 2019
We are currently at a moment of extreme and rising inequality in many countries around the world. Rarely are the links made between the extremely wealthy and the personal liability these individuals have in contributing to potentially irreversible climate change and mass species extinction.
The polluter elite are extremely rich individuals whose net worth, luxury lifestyle and political influence all rest on wealth that is derived from investments in polluting activities e.g. fossil fuels.
What differentiates the polluter elite from other stakeholders is that as major shareholders they profit from the fossil fuel economy.
As decision makers they approve lobbying of governments (funding lobbyists and direct donations to political parties) to block the transition away from fossil fuels.
They use their political power to restrict the consumption options of ordinary citizens to keep them “addicted” to lifestyles dependent on fossil fuels (e.g. diesel and petrol vehicles, plastic packaging, coal and gas for electricity, heating and cooking).
The polluter elite database lists the names of executives (CEO etc) and directors who are decision-makers at large multinational oil, gas and coal companies.
The objective of the database is to quantify personal responsibility for greenhouse gas emissions based on shareholding. This is different from emissions associated with personal consumption (e.g. flying). Investment emissions are based on the number of shares held in a polluting company. The shares held are used to calculate the percentage ownership of the company, and therefore the percentage of the company annual emissions. The main source to calculate investment emissions is the company annual report.
The date for which investment emissions are calculated is 31 December 2015. This is then applied to the annual company emissions for 2015. A specific date has to be used because shareholdings and other variable such as company annual emissions can change.
The companies listed in this database were taken from the Carbon Majors research by Richard Heede and Carbon Disclosure Project because they are the companies with the highest emissions.
Methodology
The same process was used for each member of the executive team and directors of the companies listed in the database.
- Number of shares identified from company annual report and filings (e.g. with Securities & Exchange Commission)
- Value of shares: Number of shares multiplied by share price
- % ownership of the company: Value of shares divided by total market capitalisation
- Personal share of company direct emissions: % ownership of company = % ownership of company annual emissions, tonnes of CO2e
Access to the database
The database can be downloaded by filling in the form below. The document has been intentionally left open so that users can see equations and build on it. For the Downloads section of the form you need to click on downward arrow and click on Polluter Elite Database 24 June 2019.
Downloads *
———————-
What needs to happen?
Addressing climate change can sometimes end up being an abstract exercise. The companies responsible can be seen as faceless and therefore difficult to influence. If we understand who has a personal stake in defending the fossil fuel status quo, we will have a better chance of accelerating the transition away from fossil fuels by directly weakening their economic and political power.
There will be no transition away from fossil fuels unless the polluter elite who run big oil and gas companies are weakened economically, politically and morally.
With UN reports on climate change and species extinction saying drastic action is needed in the next decade, we just do not have enough time for the polluter elite to block the transition to renewables either now or in the next election cycle. To permanently weaken their economic and political power the government in the UK, United States and elsewhere should:
- End subsidies to fossil fuel companies. For a long time many governments in countries like the US and the UK have been using billions in taxpayers money to help these companies (globally fossil fuel subsidies in 2015 were $4.7 trillion). This money could be redirected to the green transition in ways that guarantee jobs for people who no longer have a job in the fossil fuel sector.
- Phase out domestic extraction and imports of oil, gas and coal. Governments should coordinate an immediate phase out of domestic extraction and imports of oil, gas and coal. An immediate phase out of fossil fuels must be central to what is currently known as the Green New Deal. If this does not happen there will be a continuation of the growing renewable energy sector co-existing with fossil fuels which puts the world on course for irreversible climate change. Despite the recent announcement the UK will put a net zero emissions target by 2050 into law, the government is yet to phase out fossil fuels which is what matters in practice.
More information
This database accompanies the book: Carbon Inequality: The Role of the Richest in Climate Change (published by Routledge, June 2019). The book goes into more detail on the cycle presented in the illustration above.