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The ‘big 10’ global food and drink companies together emit more greenhouse gases than the Nordic countries and would rank as the 25th most polluting country in the world if grouped together, the international charity and agency Oxfam claims in a new report on Tuesday.

In a highly critical overview of their climate change policies, it warns the companies – which represent the world’s most famous household brands – that they are risking financial ruin if they do not do more to use their clout and size to tackle the climate crisis.

The companies are Associated British Foods, Coca-Cola, Danone, General Mills, Kellogg, Mars, Mondelez International, Nestlé, PepsiCo and Unilever.

The new report,  Standing on the Sidelines, says together they churn out more than Finland, Sweden, Denmark, Norway and Iceland’s annual total of 250 million tons of greenhouse gases, according to its analysis of the Carbon Disclosure Project for company emissions and the most recent data for country emissions.

Oxfam insists the companies are capable of cutting their combined emissions by 80 million tons by 2020 and says they are not doing enough despite the threat climate change poses to the sustained supply of ingredients needed for their products, their economic might and the need to feed a growing population. Between them, they generate £650m ($1.1bn) a day in revenues, equivalent to the total GDP of all the world’s lower income countries.

Oxfam singled out Kellogg and General Mills as two of the worst on climate change policies and is calling on these “clear laggards” to lead the sector towards more responsible policies and practices.