GAVIN MAGUIRE: Companies on the emissions radar at COP27

The concept of a carbon tax for corporations is likely to gather more support from governments and international bodies as estimates for the funding needed to battle climate change surge

Littleton —

“It is about time that these companies are made to pay a global carbon tax on their profits as a source of funding for loss and damage,” he said. “While they are profiting, the planet is burning.” And since global lockdowns from Covid-19 have eased, the oil and gas sector has clearly revived across all business segments, with oil rigs, gas fields, refineries and distribution hubs all cranking to life over the past year or so.

As hefty as their collective discharges have been, however, oil and gas companies have not been the only steady polluters.discharge from electricity producers in 2021 was even greater than the volume spewed out by oil and gas majors, weighing in at 990.1-million tonnes, Refinitiv data shows.from the 10 largest global firms in the utilities and power segment in 2021.

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