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Big Oil Dominates Climate Lobbying League

Large oil and gas firms continue to be the most active lobbyists against legislation to slow climate change, but steel, chemicals and automotive companies are also highly engaged. US oil giants Chevron and ExxonMobil retained their top slots in UK think tank InfluenceMap’s 2022 Climate Policy Footprint, which identifies the 25 most negative and influential corporations globally. US Congress has been conducting a series of investigations into oil and gas firms’ climate-related communications and strategies. German chemicals firm BASF was third in InfluenceMap’s new rankings due to “intense European-level policy engagement” over the last year. Automotive giants Toyota and BMW were also listed, but not Volkswagen, which faces court action from pension schemes for refusing to disclose its climate lobbying activities. Asset managers and owners have developed a 14-point standard to help institutional investors increase transparency of investee firms’ climate lobbying activities. A recent analysis from the Principles for Responsible Investment warned that investors were not yet getting to grips with indirect lobbying techniques. Last month, InfluenceMap published a report highlighting efforts by industry associations in Europe and the US to delay policies designed to tackle biodiversity loss.

 

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