Do Investors Really Control the World Economy?

Do investors, through their mechanisms of acting as shareholders, really control the fate of carbon emissions? Do publicly traded companies even produce the majority of carbon emissions in the world? This is a key issue, and it also goes to the matter of history. In the top 10 polluters worldwide in the fossil fuel business, only two are privately owned, widely traded Western oil majors - Exxon and Shell. The top eight are government owned, government linked energy companies largely in the emerging market world. So this idea that by way of Western publicly traded capitalism, you can control the whole world economy has become anachronistic.