Tag: Taxation

ExxonMobil vs The State: How Governments Can Lower Corporate CO2 Emissions

A report released in 2017 found that over half of all global emissions since 1988 have been produced by just 25 companies. When you take into account the 100 most environmentally damaging companies, known as the ‘Carbon Majors’, that figure rises to over 70%. Even so, we are constantly told that individual actions like using canvas bags and taking the bus will be enough to avoid the catastrophic effects of climate change. The truth is that the onus is on the major greenhouse gas emitters like Exxon Mobil and Shell Oil to simply stop extracting and distributing fossil fuels. Unfortunately, the pressures of the competitive market mean that they are not going to do this without a push.