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InfluenceMap releases report showing major oil companies' investment into misleading climate-related branding & lobbying

Author: InfluenceMap, Published on: 14 May 2019

"How the oil majors have spent $1Bn since Paris on narrative capture and lobbying on climate", March 2019

This research finds that the five largest publicly-traded oil and gas majors (ExxonMobil, Shell, Chevron, BP and Total) have invested over $1Bn of shareholder funds in the three years following the Paris Agreement on misleading climate-related branding and lobbying. These efforts are overwhelmingly in conflict with the goals of this landmark global climate accord and designed to maintain the social and legal license to operate and expand fossil fuel operations. Company disclosures of spending on climate lobbying and branding are very limited. To fill this transparency gap, InfluenceMap has devised a methodology using best-available disclosures and intensive research of corporate messaging to evaluate oil major spending aimed at influencing the climate agenda, both directly and through their key trade groups. This research will feed into efforts by key stakeholders to bring the oil and gas sector into line with the urgency of action on climate change. These include the global investment community which in 2017 launched the Climate Action 100+ program of engagement with some of the world's largest corporations on climate change... "InfluenceMap's research confirms a widely held suspicion that Big Oil's glossy sustainability reports and shiny climate statements are all rhetoric and no action. These companies have mastered the art of corporate doublespeak - by boasting about their climate credentials while quietly using their lobbying firepower to sabotage the implementation of sensible climate policy and pouring millions into groups that engage in dirty lobbying on their behalf." [says Catherine Howarth, chief executive of ShareAction].

Read the full post here