Thomson Reuters Releases Greenhouse Gas Emissions Data on Global Energy Providers
EAGAN, Minn. – Thomson Reuters today released new research – Global 500 Greenhouse Gas Report: The Fossil Fuel Energy Sector – revealing greenhouse gas (GHG) emissions data from 32 global energy companies, a key subset of the world’s largest publically traded businesses. The report, written in collaboration with global sustainability consultancy BSD Consulting, is the second in a series of GHG reports designed to create transparency and enable sound management of global GHG emissions.
Building on the previous report, this new report includes data around consumers’ use of a company’s products, called Scope 3 data, to present a fuller view of the business’s overall contribution to GHG emissions. Among the data included in the report, 31 percent of GHG emitted globally on an annual basis comes from 32 global energy companies and the population’s use of their products.
From 2010 to 2013, GHG emissions from the 32 energy companies and use of their products increased by 1.3 percent – a sharp contrast to the 2014 United Nations Environmental Program (UNEP) Emissions Gap Report, which recommended a 4.2 percent reduction of GHG emissions over the same time period to keep global temperatures within manageable limits.
“Since our last report, energy prices have decreased dramatically, economic conditions continue to improve and consumer habits remain unchanged, yet the data suggests that more progress needs to be made in curbing greenhouse gas emissions,” said Tim Nixon, director of Sustainability at Thomson Reuters, and a co-author of the report. “While energy companies will need to play a leading role reducing greenhouse gas emissions, consumers and regulators must also play important roles if global greenhouse gas emissions are to be reduced.”
In addition to contributions from the Carbon Disclosure Project and the Climate Accountability Institute, self-reported GHG emissions data was gathered from energy sector businesses and combined with estimates pulled from Thomson Reuters ASSET4 – a leading provider of environmental, social and corporate governance (ESG) data. ASSET4 gathers standardized, objective, quantitative and qualitative ESG data on more than 4,800 publicly listed companies.
“The main goal of this new report is to provide for greater transparency into this important sector of the Global 500 from a greenhouse gas perspective,” said John Moorhead, executive manager of BSD Consulting, and co-author of the report. “If we are to balance our needs for energy with our harmful effects on our environment and subsequent generations, it is critically important for energy consumers and producers alike to reduce total fossil fuel consumption, particularly in its most carbon intensive forms, and achieve the target of 1.4 percent or greater yearly reduction in GHG emissions.”
This report is part of the broader commitment by Thomson Reuters to support the essential operating systems that power our legal system, businesses and society that can foster a more transparent, inclusive, fair and ethical world. For more on our commitment to Corporate Responsibility and Inclusion, visit thomsonreuters.com/about-us/corporate-responsibility/.
To review the full report, or for more on the methodology and analysis of GHG 500 data, visit http://thomsonreuters.com/content/dam/openweb/documents/pdf/corporate/Reports/global-500-greenhouse-gas-report-fossil-fuel-energy-sector.pdf.
For the previously published report, Global 500 Greenhouse Gases Performance 2010-2013: 2014 Report on Trends, visit thomsonreuters.com/corporate/pdf/global-500-greenhouse-gases-performance-trends-2010-2013.pdf.
BSD is a global sustainability consultancy that provides thought leadership and customized solutions for the management of sustainability issues to international business and governmental organizations. For more information, go to www.bsdconsulting.com.