In response to new analysis by enterprise fuel and electrical energy dealer Utility Bidder, the ten largest CO2-emitting firms in the US would want to plant greater than 2 billion bushes yearly simply to offset one yr’s price of their direct (Scope 1) and oblique (Scope 2) emissions.
As surprising as this determine is, it’s no shock. In response to the Carbon Majors Database report from CDP, a nonprofit world disclosure system, simply 100 firms account for 71% of the world’s CO2 emissions. Utility Bidder recognized the U.S. and U.Okay. firms pumping out the largest carbon footprints after which calculated what number of bushes every firm would want to plant every year to offset its emissions.
As a result of the world loses greater than 15.3 billion bushes yearly, based on a 2015 study in the journal Nature, we have to plant greater than 2 billion bushes to maintain up.
Two main petroleum firms topped the checklist: U.Okay.-based BP, had the most important carbon footprint, releasing 374 million tons of CO2 yearly. ExxonMobil, headquartered within the U.S., is the second-highest emitter, releasing 112 million tons of CO2 yearly.
Tree-planting’s Monetary Context
Tree-planting organizations working in low-income international locations can put a tree within the floor for as little as 25 cents immediately. If aggressive planting applications had been put in place, that price might be decrease, and tens of hundreds of jobs can be created. For instance, Samsung and Veritree collaborated to plant 2 million bushes in 2022, which can present 4,000 days of labor in Madagascar. (See disclosure beneath.)
BP must plant 1.87 billion bushes yearly to offset its emissions, which might price $467.5 million. This sounds costly nevertheless it represents simply 3.6% of BP’s 2021 net profits of $12.8 billion. The corporate as an alternative introduced it might purchase again $1.5 billion price of its inventory.
To offset its emissions, ExxonMobil would want to plant 560 million bushes yearly, which might price $140 million (at $0.25 per tree). That tree-planting invoice would characterize solely 0.06% of the oil and fuel firm’s $23 billion 2021 profit.
Uncover which different U.S. companies are high carbon emitters on this infographic from Utility Bidder.
Disclosure: Earth911’s writer, Mitch Ratcliffe, was a contractor to Samsung and contributed to the Veritree partnership.