Big oil companies are spending millions to appear ‘green.’ Their investments tell a different story, report shows
Source: https://www.cnnphilippines.com/business/2022/9/8/Big-Oil-green-claims-report.html
Author: Lauren Kent
An analysis from London-based energy and climate think-tank InfluenceMap found that the amount of climate-positive messaging used by five major oil and gas companies – BP, Chevron, ExxonMobil, Shell, and TotalEnergies – is inconsistent with their spending on low-carbon activities. The report comes as scientists have grown increasingly urgent in their warning that the world must slash the use of fossil fuels to prevent catastrophic consequences of the climate crisis. It also comes amid fresh criticism of oil companies’ growing profits as consumer energy costs soar. The think tank analyzed 3,421 items of public communications materials for 2021 across the five companies and found that 60% of their messaging contained at least one “green” claim. And the company noted the InfluenceMap analysis does not account for investments outside of its Renewables and Energy Solutions division – investments such as electric vehicle charging, biofuels and sustainable aviation fuel, all of which climate scientists have said are important in the effort to wean off fossil fuel.