Greenhouse gas emissions from the world's 500 biggest companies increased by 3.1 per cent in recent years, despite efforts to reduce carbon dioxide levels in the atmosphere in order to tackle climate change, new analysis has shown.

 

According to research published on Monday by Thompson Reuters and BSD Consulting, the Global 500 is responsible for more than 10 per cent of the world's greenhouse gases. The 50 largest of those companies produce four-fifths of that 10 per cent,

 

The United Nations estimates that global emissions should have fallen by 4.2 per cent between 2010 and 2013 if the world is to limit temperature rises to 2C by the end of the century - the target set by world leaders to avoid catastrophic climate change.

 

But Reuters' analysis shows the Global 500 emissions grew by 3.1 per cent over that same period.

 

Tim Nixon, director of sustainability at Thomson Reuters, and a co-author of the report, said that the findings should refresh efforts among corporates to curb their emissions. "As we saw during the recent United Nations Climate Change Conference in Lima, Peru, there's an urgency to curb greenhouse gas emissions worldwide so we can reduce the impact of climate change," he said.

 

"While we hope this report accelerates the discussion related to GHG reductions among the Global 500, it's important to remember that as global consumers of industry, we all play a part in this conversation."