In Short : A new *Nature* study reveals the world’s 111 biggest companies have caused $28 trillion in climate damage, with over half linked to just 10 fossil fuel giants like ExxonMobil and Chevron. Using historical emissions and climate modeling, researchers quantified economic losses, strengthening calls for corporate accountability and climate reparations. Legal and policy actions are already emerging in response.
In Detail : A recent study published in *Nature* has found that the world’s 111 largest companies are responsible for approximately $28 trillion in climate-related economic damages. This research marks one of the most comprehensive efforts to quantify the financial toll of corporate greenhouse gas emissions on a global scale.
The study points out that over half of these damages stem from just ten major fossil fuel companies. Among them are industry giants like Saudi Aramco, Gazprom, Chevron, and ExxonMobil. These corporations have long been criticized for their outsized role in contributing to climate change, and the new figures provide concrete economic metrics to back up those claims.
Researchers at Dartmouth College led the analysis by combining more than a century’s worth of emissions data with advanced climate modeling. This allowed them to calculate how each company’s emissions raised global temperatures and triggered climate-related economic losses. For example, Chevron alone was found to have increased global temperatures by 0.025°C.
The findings add to a growing body of literature that attempts to assign financial accountability for the climate crisis. Earlier studies have also suggested that fossil fuel emissions could cost the global economy as much as $99 trillion between 2025 and 2050. This new study strengthens those projections by assigning specific damages to individual corporations.
Legal and policy implications of the study are already taking shape. Some regions, like the state of Vermont in the U.S., are proposing climate accountability laws. Vermont’s “climate superfund” bill seeks to make polluters pay for climate-related damages, much like tobacco companies were held liable for public health costs in the past.
As the economic costs of climate change grow clearer, calls for corporate responsibility are intensifying. This study provides fresh evidence to support legal actions and policy changes aimed at holding major emitters financially accountable for their role in driving global warming.
