A landmark report released by climate research group Climate Analytics reveals that the world's largest fossil fuel companies, known as the 'carbon majors', are responsible for $15 trillion in damages caused by climate change. This represents just a fraction of the total economic and human costs incurred due to their emissions. The report also predicts that economic damages from climate change will reach $1.
7 trillion per year by 2025 and $30 trillion per year by 2075 if the current warming trend continues. Titled 'Carbon Majors' Trillion Dollar Damages', the report examines the historical emissions and financial gains of the 12 highest-emitting fossil fuel companies between 1985 and 2018