Carbon Majors Funding Loss and Damage
The climate change already being experienced is the result of the emissions that have been released into the atmosphere since the start of the Industrial Revolution. The Carbon Majors report released in November 2013 established that 63 percent of carbon emissions in the atmosphere have come from the coal, oil, and gas extracted and cement manufactured by only 90 entities – the “Carbon Majors”, which include Chevron, ExxonMobil, Saudi Aramco, BP, Gazprom, and Shell. These entities have made massive profits while billions of people in poor communities are already suffering from loss and damage caused by climate change.