Carbon Capture Advocacy Misaligned with IPCC

A study by climate lobbying database InfluenceMap has uncovered major discrepancies between corporate advocacy for carbon capture and storage (CCS) and principles outlined by the Intergovernmental Panel on Climate Change (IPCC). The analysis spanned from 2021 to 2023 and scrutinised over 750 instances of corporate engagement across 500 global companies and 250 industry associations regarding CCS-related policies. Sofia Basheer, Senior Analyst at InfluenceMap, highlighted the concerning shift in corporate focus: “In the past, fossil fuel companies have attempted to undermine public trust in the science of what causes climate change, but now the focus has shifted to spreading confusion about the science of climate change solutions.” The report indicates that more than 80% of corporate engagements concerning CCS are incongruent with the IPCC’s science-based recommendations to policymakers. The engagement primarily falls into two categories: advocating CCS indiscriminately and deviating from IPCC guidance; and promoting CCS to impede policies transitioning from fossil fuels. The analysis underscores the dominance of oil, gas, and utility companies, accounting for 58% of all CCS advocacy. Entities like Occidental Petroleum, ExxonMobil, Shell, BP, Santos, Cenovus, and industry associations such as the Australian Energy Producers, IOGP, CAPP, and API are actively utilising various tactics, from PR campaigns to lobbying, to promote CCS, the report noted. Further, the study identified recurrent misleading claims within corporate CCS advocacy, conflicting with scientific evidence. Notably, these include positioning CCS as central to climate targets and advocating its role in job creation and community support, which contradicts established science. Fatih Birol, Executive Director of the International Energy Agency, criticised the reliance on CCS while continuing business-as-usual with oil and gas as “fantasy” in the lead-up to COP28 in Dubai. 

The practical information hub for asset owners looking to invest successfully and sustainably for the long term. As best practice evolves, we will share the news, insights and data to guide asset owners on their individual journey to ESG integration.

Copyright © 2024 ESG Investor Ltd. Company No. 12893343. ESG Investor Ltd, Fox Court, 14 Grays Inn Road, London, WC1X 8HN

To Top