Oil giants and the gas industry spend millions of dollars annually to “obstruct” policies that would address climate change around the world, new report finds.
Exxon, Royal Dutch Shell and three trade organisations together were said to spend close to an estimated $115 million (£81m), according to a research published by Influence Map, a London-based non-profit organisation.
The American Petroleum Institute reportedly spends the most at $65 million.
ExxonMobil’s “direct spending on climate obstruction,” is reportedly $27 million a year, followed by Shell with an estimated spending of $22 million.
The Australian Petroleum Production and Exploration Association (APPEA) and the Western States Petroleum Association (WSPA), two smaller trade groups, totalled about $9millon in 2015, according to the data.
This is a lot more than what the other side is investing on pro-climate reforms. The researchers estimate that climate-advocacy investor groups have spent less than $5 million last year.
Influence Map assessed spending on a range of activities relating to political influence including advertising, contribution to trade associations and capture of the public discourse on climate, as well as political contributions and spending on registered lobbyists. The data excludes “dark pools” of money or money being channelled into anti-climate think tanks and institutes which are harder to trace due to current disclosure requirements.
The Independent has reached out to the five organisations for comment.
Royal Dutch Shell declined to comment on the report. The others have not so far answered to requests.
But a spokesman for Exxon Mobile told Bloomberg the company has spent close to 9 billion on research that might boost energy supply, cut emissions and improve efficiency.
A WSPA spokesman said the group educates the public “on the facts and science often left out of today's climate storyline” and that it is lobbying is in compliance with the California Fair Political Practices Commission.
The report comes as investors are calling for increased disclosure on where their funds are headed.
New York State Comptroller Thomas DiNapoli and the Church Commissioners for England have signed a motion calling on ExxonMobil to disclose the resilience of its business model in January in the wake of the Paris agreement on climate change.
