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Fossil fuel companies' true balance sheets
  • +2
  • Carl-Friedrich Schleussner,
  • Marina Andrijevic,
  • Jarmo Kikstra,
  • Richard Heede,
  • Joeri Rogelj
Carl-Friedrich Schleussner
Geography Department, Integrative Research Institute on Transformations of Human-Environment Systems (IRI THESys, Humboldt-Universit├Ąt zu Berlin, Climate Analytics

Corresponding Author:carl.schleussner@climateanalytics.org

Author Profile
Marina Andrijevic
International Institute for Applied Systems Analysis (IIASA)
Jarmo Kikstra
Grantham Institute for Climate Change and the Environment and Centre for Environmental Policy, Imperial College London, International Institute for Applied Systems Analysis (IIASA)
Richard Heede
Climate Accountability Institute
Joeri Rogelj
Grantham Institute for Climate Change and the Environment and Centre for Environmental Policy, Imperial College London, International Institute for Applied Systems Analysis (IIASA)

Abstract

Contributions from fossil fuel companies to a Loss and Damage fund have been explicitly called for. Here we estimate societal damages caused by emissions attributable to fossil fuel companies to be of the order of several trillion USD since 1985 and to exceed the cumulative company profits generated over the same period. Even record profits of 2022 do not match the annually inflicted climate damages.
05 Mar 2023Submitted to ESS Open Archive
06 Mar 2023Published in ESS Open Archive