According to an analysis commissioned by Greenpeace, twelve of Europe’s leading fossil fuel companies are deceiving the public about their willingness to curb their climate-damaging impact by transitioning to renewable energy sources. Greenpeace calls for strict regulation of fossil fuel companies to prevent even more fossil-fuelled climate destruction.
The report, titled “The Dirty Dozen: The Climate Greenwashing of 12 European Oil Companies”, is based on the 2022 annual reports of six global fossil fuel giants and six European oil and gas companies. It reveals that only a minuscule 0,3% of their 2022 energy production came from renewable power.
Only 7,3% of the 12 companies’ 2022 investments (€6,57 billion) went toward green energy; the remaining 92,7% (€81,52 billion) is funding fossil business as usual and even its expansion, in some cases.
The report also reveals that the oil companies are undermining climate action via a deliberate cocktail of greenwashing jargon, promoting dangerous distractions like carbon capture and storage (CCS) and carbon offsetting, misleading diagrams of their focus and activities, and publishing only partial data to hide the reality and undermine climate action.
No coherent strategy
Although most of the Dirty Dozen analyzed have publicly committed to reaching ‘net zero’ by 2050 – and keep making public assurances that they are investing in renewable energy – not a single one has developed a coherent strategy to achieve net zero. The vast majority are planning to maintain or even increase their oil and gas production until at least 2030, according to the report.
According to Greenpeace, the big oil companies have shown the public they cannot self-regulate after scaling back their climate ambitions despite being heavily responsible for the climate crisis. They cling to their destructive business models and continue to fuel the climate crisis.
Greenpeace: “Their already inadequate decarbonization plans are an empty shell. Instead of providing desperately needed clean energy, they feed us greenwashing garbage. Governments must stop enabling fossil fuel companies, heavily regulate them, and plan our fossil fuel phase-out. They will never change on their own.”
The six so-called ‘big oil’ companies are Shell, TotalEnergies, BP, Equinor, Eni, and Repsol. The six European oil and gas companies involved in the analysis are OMV, PKN Orlen, MOL, Wintershall DEA, Petrol Group, and Ina Croatia.