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InfluenceMap

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NEW REPORT: Big oil companies are spending millions to appear 'green', but their investments tell a different story

InfluenceMap released today its Big Oil 2022 report, and the results are striking: Big Oil companies are spending millions to appear ‘green’ – but their investments are telling a different story. Whilst 60% of the public messages released by these companies contain ‘green claims’, only a fraction, around 12% on average, are forecast to spend their capital expenditure budgets on low carbon investments this year. This finding highlights a massive gap between green ‘PR’ strategies compared to actual investment in low carbon technologies or renewable energy. The companies' imbalance between "green" messaging and investment is striking. It appears to be part of a "systematic campaign to portray themselves as pro-climate to the public," InfluenceMap program manager Faye Holder told CNN. "In the meantime, what we see is a continued investment into this unsustainable energy system – predominantly for fossil fuels." InfluenceMap also estimated the companies are spending around $750 million each year cumulatively on climate-related communication activities, based on the number of communications staff the companies employ. The major findings have exposed five of the biggest oil and gas companies in the world, including bp, Shell, ExxonMobil, Chevron and TotalEnergies for their contribution to greenwashing. "It seems to be just an evolution in the tactics that Big Oil is using to try to delay action on climate change," InfluenceMap program manager Faye Holder said. We need to hold these fossil fuel companies accountable. We Don't Have Time for greenwashing. We Don't Have Time for fossil fuels. We need to act now! Accountability is helped by making this information public. So, let's send climate love to InfluenceMap, an energy and climate think-tank. Read more: https://edition.cnn.com/2022/09/07/energy/big-oil-green-claims-report-climate-intl/index.html

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