Corporate Climate

Source: By Kelsey Tamborrino, Politico • Posted: Friday, February 23, 2018

President Donald Trump’s decision to pull the U.S. out of the Paris climate agreement and unwind the Obama administration’s carbon regulations on power plants has set off a movement by cities, states and corporations to take up the challenge of fighting greenhouse gas pollution. But a new report out today shows most of the biggest U.S. energy companies aren’t on board with that effort. In fact, 21 of the biggest oil and utility companies have minimal oversight of climate risk and almost no board members with climate expertise, according to a study conducted by the 50/50 Climate Project, a group focused on corporate America’s climate activities.

Pulling data from company websites, federal and state lobbying disclosures, national election spending and 527 political committee filings, the report found at least $673 million was spent from 2011 to 2016 to influence policy and support candidates for office, but only two companies РExxon Mobil and ConocoPhilips Рhave board members with any climate expertise. And only Occidental Petroleum mentions climate change as part of its corporate oversight. Companies in seven states РAlaska, California, Florida, Michigan, Ohio, Oregon and Washington Рhave spent more than $50 million on countering clean energy initiatives, the report found. Read the details here.