Ranking of groups

Largest CO2 emitter owners in the world, by group

The 100 largest of 483 CO2 emitter owners in the world, each company counted under its ultimate parent and ranked by the verified emissions in 2025 of the CO2 emitters the group's companies own, operate or hold. State Treasury leads with 51,183,258 tCO2e across 17 CO2 emitters, held by 5 of its companies, ahead of RWE Aktiengesellschaft (41,380,407 tCO2e) and Lausitz Energie Kraftwerke AG (38,824,842 tCO2e).

A group is a parent company in the data and every subsidiary under it (GLEIF, Wikidata and the UK register of people with significant control); a company with no parent in the data is a group of its own. Each CO2 emitter counts once per group, in whole, or by the group's share where a source records one. A CO2 emitter with owners or operators in two groups counts in both, so the sizes do not add up to the world's total.

#Group, and its companies that hold themCountryCO2 emittersVerified emissions in 2025Largest
1State Treasury
Through PGE Energia Ciepła S.A., PGE Górnictwo i Energetyka Konwencjonalna S.A. and 3 more		Poland1751,183,258 tCO2ePGE GiEK S.A. Oddział Elektrownia Bełchatów 25,103,854 tCO2e
2RWE Aktiengesellschaft
Through RWE Generation SE, RWE Power Aktiengesellschaft and 2 more		Germany1241,380,407 tCO2eKraftwerk Neurath 12,073,464 tCO2e
3Lausitz Energie Kraftwerke AGGermany538,824,842 tCO2eKraftwerk Jänschwalde 9,631,288 tCO2e
4Orlen
Directly and through ORLEN Unipetrol RPA s.r.o., ORLEN Termika S.A. and 2 more		Poland1019,586,674 tCO2eZakład Produkcyjny w Płocku 7,379,102 tCO2e
5Enea SA
Through ENEA Wytwarzanie Sp. z o.o., Enea Ciepło Sp. z o. o. and 1 more		Poland416,299,585 tCO2eElektrownia Kozienice 7,877,305 tCO2e
6thyssenkrupp AG
Through ThyssenKrupp Steel Europe AG		Germany614,621,281 tCO2eIntegriertes Hüttenwerk Duisburg 6,705,307 tCO2e
7Česká republika - Ministerstvo financí
Through ČEZ Group, Energotrans, a.s. and 1 more		Czechia1013,581,578 tCO2eČEZ, a. s. - Elektrárna Tušimice 2 3,339,956 tCO2e
8Enel
Through Enel Produzione S.p.A., Unión Eléctrica de Canarias Generación, S.A.U. and 2 more		Italy2012,746,563 tCO2eUnión Eléctr. de Canarias Generación-CT Granadilla 1,941,603 tCO2e
9voestalpine AG
Through voestalpine Stahl GmbH and voestalpine Stahl Donawitz GmbH		Austria311,977,573 tCO2eVoestalpine Stahl Linz 8,866,634 tCO2e
10Repsol
Through Repsol Petróleo, S.A., Repsol Generación Ciclos Combinados S.L.U. and 2 more		Spain811,150,510 tCO2eRepsol Petróleo S.A. 2,370,702 tCO2e
11Heidelberg Materials AG
Directly and through Heidelberg Materials Italia Cementi S.p.A., Heidelberg Materials Benelux and 6 more		Germany2110,962,870 tCO2eSlitefabriken 1,227,364 tCO2e
12French State
Through Électricité de France, Edison and 3 more		France1910,805,126 tCO2ePresenzano 1,336,373 tCO2e
13Ministry of Economics, Finance and Industrial and Digital Sovereignty
Through Engie Electrabel, Compagnie parisienne de chauffage urbain and 3 more		France1110,395,084 tCO2eElectrabel - Knippegroen 4,799,106 tCO2e
14Eni
Directly and through Vår Energi ASA, EniPower S.p.A. and 4 more		Italy1110,308,885 tCO2eEniPower S.p.A.- Stabilimento di Ferrera Erbognone 2,146,721 tCO2e
15Holcim AG
Through Lafarge Ciments, LafargeHolcim España, S.A.U. and 8 more		Switzerland209,649,585 tCO2eHolcim (Romania) SA 958,172 tCO2e
16Tauron Polska Energia
Through Tauron Wytwarzanie and Tauron Ciepło Sp. z o.o.		Poland89,282,051 tCO2eTauron Wytwarzanie S.A. o. Nowe Jaworzno w Jaworzn 2,870,578 tCO2e
17TotalEnergies
Through TotalEnergies Raffinage France, TotalEnergies Raffinerie Mitteldeutschland GmbH and 5 more		France149,225,896 tCO2eRaffinerie de Normandie (RN) 1,767,632 tCO2e
18Shell
Through Shell Deutschland GmbH, Crossbridge Energy A/S and 2 more		United Kingdom59,163,653 tCO2eShell Nederland Raffinaderij B.V. 4,204,674 tCO2e
19Ministry of Trade, Industry and Fisheries
Through Equinor Energy AS and Equinor ASA		Norway198,743,360 tCO2eEquinor ASA Raffineri Mongstad 1,485,426 tCO2e
20SSAB AB
Through SSAB EMEA AB and SSAB Europe Oy		Sweden48,490,139 tCO2eRaahen terästehdas 3,844,594 tCO2e
21ΔΕΗ Α.ΕGreece138,232,182 tCO2eΑΤΜΟΗΛΕΚΤΡΙΚΟΣ ΣΤΑΘΜΟΣ ΑΗΣ ΑΓΙΟΥ ΔΗΜΗΤΡΙΟΥ 2,733,605 tCO2e
22EP Investment
Through Mibrag GmbH, Elektrárny Opatovice, a.s. and 7 more		Luxembourg97,715,938 tCO2eCentrale di Tavazzano e Montanaso 2,181,062 tCO2e
23BASF SE
Directly and through Alsachimie S.A.S. and B.A.S.F. Antwerpen		Germany87,096,549 tCO2eBASF Antwerpen - 127 3,044,329 tCO2e
24Hannoversche Beteiligungsgesellschaft Niedersachsen mbH
Through Salzgitter Flachstahl GmbH		Germany36,937,027 tCO2eGlocke Salzgitter 3,497,812 tCO2e
25EnBW Energie Baden-Württemberg AG
Directly and through Stadtwerke Düsseldorf AG		Germany56,660,304 tCO2eRDK Karlsruhe 2,979,539 tCO2e
26Nippon Steel Corporation
Through Nippon Steel Slovakia s. r. o.		Japan26,505,638 tCO2eU. S. Steel Košice, s.r.o. 4,463,688 tCO2e
27Hüttenwerke Krupp Mannesmann Gesellschaft mit beschränkter HaftungGermany26,442,583 tCO2eGlocke Duisburg 3,901,188 tCO2e
28OMV Aktiengesellschaft
Through OMV Petrom, OMV Deutschland Operations GmbH & Co. KG and 1 more		Austria46,372,311 tCO2eOMV Raffinerie Schwechat 2,648,397 tCO2e
29Norsk Hydro ASA
Through Hydro Aluminium AS, Yara Norge AS avd. Porsgrunn and 2 more		Norway76,224,972 tCO2eYara Sluiskil B.V. BKG 1 3,118,291 tCO2e
30Naturgy
Through Naturgy Ciclos Combinados, S.L.U.		Spain96,064,273 tCO2eCCC - Cartagena 1,133,989 tCO2e
31Solvay S.A.
Through Solvay GmbH, Solvay Chimica Italia Spa and 4 more		Belgium95,709,675 tCO2eSolvay Sodi JSCo 1,853,803 tCO2e
32Tata Steel
Through Tata Steel IJmuiden B.V.		India15,689,202 tCO2eTata Steel IJmuiden bv BKG 1 5,689,202 tCO2e
33Vitol Holding II S.A.
Through Sarlux Srl		Luxembourg15,641,161 tCO2eSarlux Srl 5,641,161 tCO2e
34ArcelorMittal FranceFrance25,579,937 tCO2eArcelorMittal France- Dunkerque 5,362,700 tCO2e
35TPP Maritsa East 2 EADBulgaria15,226,318 tCO2eTPP Maritsa East 2 EAD 5,226,318 tCO2e
36CRH plc
Directly and through EQIOM, Fels-Werke GmbH and 4 more		Ireland145,153,354 tCO2eIrish Cement Limited (Platin Works) 903,632 tCO2e
37LAG Velsen B.V.Netherlands25,144,677 tCO2eVattenfall Power Velsen 3,745,786 tCO2e
38Dow Inc.
Through Dow Deutschland Anlagengesellschaft mbH, DOW Benelux B.V. and 2 more		United States45,101,355 tCO2eDow Benelux B.V. BKG 1 3,009,025 tCO2e
39Fimedi - S.p.A.
Through Buzzi Unicem S.r.l. and Dyckerhoff GmbH		Italy124,836,660 tCO2eCementeria di Robilante 697,435 tCO2e
40ArcelorMittal Bremen GmbHGermany34,810,679 tCO2eBlock 4 Bremen 2,354,855 tCO2e
41ArcelorMittal
Through ArcelorMittal Belgium		Luxembourg14,758,283 tCO2eArcelorMittal Gent 4,758,283 tCO2e
42Grupa Azoty S.A.
Directly and through Grupa Azoty Zakłady Azotowe Puławy S.A., Grupa Azoty Zakłady Chemiczne Police S.A. and 1 more		Poland74,696,152 tCO2eZakłady Azotowe Puławy S.A. 1,684,269 tCO2e
43ArcelorMittal España, S.A.Spain14,673,784 tCO2eArcelorMittal España, S.A. 4,673,784 tCO2e
44S Complexul Energetic Oltenia SARomania34,629,199 tCO2eSC C.E. Oltenia SA - Suc. Electrocentrale Rovinari 2,574,658 tCO2e
45Government of the Federal Republic of Germany
Through Uniper Kraftwerke GmbH and Uniper Benelux N.V.		Germany64,376,854 tCO2eUniper Centrale Maasvlakte 2,001,910 tCO2e
46BP p.l.c.
Through BP Europa SE, BP Oil España SAU and 1 more		United Kingdom34,349,212 tCO2eBP Raffinaderij Rotterdam B.V. 2,070,453 tCO2e
47Compañía Española de Petróleos, S.A.
Directly and through Generación Carteia, S.L., Generación Eléctrica Peninsular, S.A. and 1 more		Spain84,339,262 tCO2eParque Energético San Roque 1,506,300 tCO2e
48Agrofert, a.s.
Through SKW Stickstoffwerke Piesteritz GmbH, DEZA, a.s. and 3 more		Czechia64,285,787 tCO2eAmmoniakanlage 2 1,112,586 tCO2e
49SHS - Stahl-Holding-Saar GmbH & Co. KGaA
Through Rogesa Roheisengesellschaft Saar mbH, Saarstahl Aktiengesellschaft and 1 more		Germany34,279,769 tCO2eRoheisenerzeugung Dillingen 3,646,506 tCO2e
50Teglerion
Through Elektrárna Počerady, a.s.		Cyprus14,235,332 tCO2eElektrárna Počerady 4,235,332 tCO2e
51ArcelorMittal Poland S.A.Poland74,112,431 tCO2eWielki Piec Stalownia ArcelorMittal Dąbrowa Górn. 2,019,564 tCO2e
52Saale Energie GmbHGermany13,958,812 tCO2eKraftwerk Schkopau 3,958,812 tCO2e
53Ruhr Oel GmbHGermany23,936,488 tCO2eRuhr Oel GmbH - Werk Scholven - CO2-Glocke 2,850,419 tCO2e
54Finitrading, a.s.
Through Energetika Třinec, a.s. and Třinecké Železárny, a. s.		Czechia23,841,283 tCO2eTřinecké železárny 2,504,528 tCO2e
55Grosskraftwerk MannheimGermany13,773,541 tCO2eGrosskraftwerk Mannheim 3,773,541 tCO2e
56AES Corporation
Through AES-3C Maritza East 1		United States13,732,939 tCO2eTPP AES-3C Maritza East 1 3,732,939 tCO2e
57ΕΛΛΗΝΙΚΑ ΠΕΤΡΕΛΑΙΑ ΜΟΝΟΠΡΟΣΩΠΗ Α.Ε.Greece33,663,456 tCO2eΕΛΛΗΝΙΚΑ ΠΕΤΡΕΛΑΙΑ Α.Ε. ΔΙΥΛΙΣΤΗΡΙΟ ΕΛΕΥΣΙΝΑΣ 1,757,128 tCO2e
58MOL Magyar Olaj- ÉS Gázipari Nyilvánosan Működő Részvénytársaság
Through Slovnaft, a.s. and MOL Downstream Zrt.		Hungary43,634,434 tCO2eMOL Nyrt. Dunai Finomító 1,406,088 tCO2e
59Senate of Berlin
Through Vattenfall Wärme Berlin AG		Germany63,624,714 tCO2eHKW Reuter West 1,269,540 tCO2e
60ArcelorMittal MediterraneeFrance13,547,605 tCO2eArcelorMittal Mediterranee 3,547,605 tCO2e
61Indenelem Establishment
Through Elektrárna Chvaletice a.s. and Teplárna Kladno s.r.o.		Liechtenstein23,524,721 tCO2eElektrárna Chvaletice 2,250,797 tCO2e
62TotalEnergies Refinery AntwerpBelgium13,389,227 tCO2eTotalEnergies Refinery Antwerp 3,389,227 tCO2e
63PCK Raffinerie GmbHGermany13,317,233 tCO2ePCK Raffinerie Glocke Schwedt 3,317,233 tCO2e
64TAMEH Polska Sp. z o. o.Poland23,312,800 tCO2eZakład Wytwarzania Nowa 3,143,680 tCO2e
65ExxonMobil
Through ExxonMobil Production Deutschland GmbH and Esso Nederland B.V.		United States23,124,696 tCO2eESSO Raffinaderij Rotterdam 2,539,104 tCO2e
66Electricity Authority of CyprusCyprus23,111,594 tCO2eEAC Vasilikos Power Station 1,881,418 tCO2e
67Acciaierie d'Italia spa in A.S.Italy13,094,279 tCO2eStabilimento di Taranto 3,094,279 tCO2e
68Sorgenia
Through Sorgenia Power SpA		Italy42,938,794 tCO2eCentrale a ciclo combinato di Aprilia 876,214 tCO2e
69ESB Group
Directly and through Synergen Power Limited Power Plant		Ireland42,914,246 tCO2eDublin Bay Power Plant 886,437 tCO2e
70Onyx Datteln 4 GmbH & Co. KGGermany12,875,406 tCO2eKraftwerk Datteln Block 4 2,875,406 tCO2e
71Control Empresarial de Capitales SA de CV
Through Cementos Portland Valderrivas, S.A. and Cementos Alfa, S.A.		Mexico62,849,368 tCO2eCementos Portland Valderrivas, S.A. 676,598 tCO2e
72Raffineria di Milazzo S.C.p.A.Italy32,839,304 tCO2eRaffineria di Milazzo 1,876,353 tCO2e
73Chemelot Site Permit B.V.Netherlands12,820,546 tCO2eChemelot BKG 01 2,820,546 tCO2e
74Schwenk Zement GmbH & Co. KG
Directly and through Schwenk Latvija, SIA		Germany52,810,271 tCO2eKlinkera apdedzināšanas krāsns 704,539 tCO2e
75Air Liquide
Through Air Liquide Ibérica de Gases, Air Liquide Industrie B.V. and 2 more		France62,757,820 tCO2eAir Liquide Industrie B.V., vest. Botlek-Rotterdam 932,483 tCO2e
76ENGIE Flexible Generation FranceFrance32,735,107 tCO2eCentrale DK6 2,338,125 tCO2e
77Iren S.p.A.
Through Iren Energia S.p.A.		Italy32,709,796 tCO2eCentrale Termoelettrica di Moncalieri 1,166,575 tCO2e
78Aboño Generaciones Eléctricas, S.L.U.Spain12,642,623 tCO2eAboño Generaciones Eléctricas, S.L.U. 2,642,623 tCO2e
79AdI Energia srl in A.S.Italy12,625,944 tCO2eADI Energia S.r.l. in A.S. 2,625,944 tCO2e
80Mineraloelraffinerie OberrheinGermany12,593,841 tCO2eWerk 1 und Werk 2 2,593,841 tCO2e
81Iberdrola
Through Iberdrola Generación Térmica, S.L., EnergyWorks Cartagena, S.L. and 1 more		Spain62,560,284 tCO2eIberdrola Generación Térmica-Central C.C.Arcos 913,274 tCO2e
82Financo S.r.l.
Through Colacem SpA and Ragusa Cementi S.p.A.		Italy62,478,831 tCO2eSesto Campano 791,291 tCO2e
83A2A Gencogas S.p.A.Italy52,422,366 tCO2eCentrale Termoelettrica Sermide 656,763 tCO2e
84Trianel Kohlekraftwerk Lünen GmbH & Co. KGGermany12,319,858 tCO2eKohlekraftwerk Lünen - TKL 2,319,858 tCO2e
85Metlen Energy & Metals plc
Through Metlen Energy & Metals		United Kingdom32,289,858 tCO2eAluminium of Greece 1,207,022 tCO2e
86Górażdże Cement Spółka AkcyjnaPoland12,259,319 tCO2eGórażdże Cement Spółka Akcyjna 2,259,319 tCO2e
87Neste OyjFinland12,242,759 tCO2ePorvoon jalostamo 2,242,759 tCO2e
88Ineos
Through INEOS Manufacturing Deutschland		United Kingdom42,236,779 tCO2eKracker 4, Geb. T21 748,653 tCO2e
89Power Plant Rotterdam B.V.Netherlands12,223,444 tCO2ePower Plant Rotterdam B.V. 2,223,444 tCO2e
90Galp Energia, SGPS, S.A.
Through Petróleos de Portugal - Petrogal S.A		Portugal12,202,697 tCO2eRefinaria de Sines 2,202,697 tCO2e
91Titan AEGreece32,202,515 tCO2eΕΡΓΟΣΤΑΣΙΟ ΚΑΜΑΡΙΟΥ ΒΟΙΩΤΙΑΣ 978,694 tCO2e
92Rafineria Gdańska Sp. z o.o.Poland12,195,256 tCO2eInstalacje Rafineryjne 2,195,256 tCO2e
93Rheinkalk GmbHGermany22,128,925 tCO2eWerk Flandersbach-Anlage zum Brennen v. Kalkstein 1,524,797 tCO2e
94Exxonmobil Petroleum & ChemicalBelgium12,114,405 tCO2eEsso Raffinaderij 2,114,405 tCO2e
95ΜΟΤΟΡ ΟΙΛ - Δ. ΚΟΡΙΝΘΟΥGreece12,094,878 tCO2eΜΟΤΟΡ ΟΪΛ (ΕΛΛΑΣ) - ΔΙΥΛΙΣΤΗΡΙΑ ΚΟΡΙΝΘΟΥ Α.Ε. 2,094,878 tCO2e
96Heidelberg Materials France CimentsFrance52,051,796 tCO2eHeidelberg Materials France Ciments – Usine de Cou 722,343 tCO2e
97Cimpor – Indústria de Cimentos, S.A.Portugal31,920,916 tCO2eCentro de Produção de Souselas 851,885 tCO2e
98STEAG Power GmbHGermany31,904,010 tCO2eHeizkraftwerk Walsum 1,543,124 tCO2e
99Vulkan Energiewirtschaft Oderbrücke GmbHGermany11,903,845 tCO2eDampfheizkraftwerk VEO 1,903,845 tCO2e
100EniPower Mantova S.p.A.Italy11,862,126 tCO2eEnipower Mantova S.p.A. 1,862,126 tCO2e

Every CO2 emitter owner in the world, with the people who decide.All 483 groups with their companies, each CO2 emitter with its share where we know it, and an introduction to the people who decide on buying and selling.

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