A new InfluenceMap analysis 'shows the lengths oil and gas companies are willing to go to mislead citizens and protect their own interests,' says GDelbosCorfield, a GreensEFA member of European Parliament.
"This report shows the lengths oil and gas companies are willing to go to mislead citizens and protect their own interests," said one Green member of European Parliament.Big Oil spends staggering sums annually"on a systematic strategy to portray themselves as positive and proactive" on climate action, while investing just a small fraction of their capital expenditures on actual low-carbon activities, a report published this week revealed.
Meanwhile, just 12% of those companies' 2022 capital expenditures is forecast to be allocated for low-carbon activities. A summary of the report noted that"additionally, none of the supermajors' forecasted oil production appears in line with the International Energy Agency's, with several companies planning to increase oil and gas production between 2021 and 2026."
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