Since Paris Accord Was Reached In 2015, World's Top 5 Oil Companies Spent $1 Billion On Lobbying, PR

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A new report by a British think tank estimates that since the 2015 Paris Agreement, the world’s five largest listed oil and gas companies spent more than $1 billion lobbying to prevent climate change regulations while also running public relations campaigns aimed at maintaining public support for climate action.

Combined, the companies spend roughly $200 million a year pushing to delay or alter climate and energy rules, particularly in the U.S. — while spending $195 million a year “on branding campaigns that suggest they support an ambitious climate agenda,” according to InfluenceMap, a UK-based non-profit that researches how corporations influence climate policy.

InfluenceMap cites as an example ExxonMobil’s heavily-touted algae-biofuels research, which the oil giant says “offers some of the greatest promise for next-generation biofuels” with significant climate benefits and has made it the focus of its “The Tiny Organism” ad campaign. InfluenceMap notes that “detailed disclosures from the company show its goal of 10,000 barrels of bio-fuel a day would equate to only 0.2 percent of its current refinery capacity.”

EDIT

The new estimates suggest that spending to influence climate policy by the five oil giants has increased sharply over the last two years. It also comes as global banks are investing more in fossil fuel projects since the Paris Agreement. In addition, the five oil companies are spending heavily on finding and producing more fossil fuels — and putting only a tiny fraction of their budgets into efforts to transition away from climate-altering fuels. “This spending accompanies the expansion of the companies’ operations with combined annual sales of over $1 [trillion] and profits of $55 [billion in] 2018, the vast majority of which is oil and gas related,” InfluenceMap wrote. “Combined capital investment will increase to $115 [billion] in 2019 but only about 3 percent of this will go to low carbon investments, according to company disclosures.”

EDIT

https://www.desmogblog.com/2019/03/22/paris-oil-exxon-chevron-bp-total-shell-billion-climate-lobbying-advertising-influencemap