A study published by InfluenceMap indicated that as much as $115B could be spent on adverse climate lobbying by the top 5 oil and gas companies in 2019. There is a glaring disparity between oil company words and deeds and with reason as they enjoy an estimated $20 billion in subsidiesper year; with 20%currently allocated to coal and 80% to natural gas and crude oil. They publicly support climate action while lobbying against binding policy.
For example, adverse climate lobbying spending by these companies in the run up to the 2018 mid-term election killed a carbon tax bill in Washington State. With the planet perilously close to climate emergency, this kind of spending will increasingly be noticed by asset allocators.
Data: The data used for the impact analysis comes from Center for Responsive Politics - OpenSecrets.org.and the American Association of Community Colleges
Analytic: How many students could attend a year of school for a company's reported spending on adverse climate lobbying?
Example:
Company A spent $4M on adverse climate lobbying / average annual tuition for community college in the United States = number of students that could be financed for one year on that amount.
Reading:
Devon Energy literally sent an emissary to Washington - Scott Pruitt
PR Firms for Big Oil spreading misinformation
Exxon is trying to Influence the EU Green Deal
Oil Companies Lobby every year to Keep Subsidies
https://www.nytimes.com/2020/12/02/opinion/oil-gas-companies-public-land.html?searchResultPosition=1
Politicians Take the Oath not to Receive Funds from Oil, Gas and Coal
