Fossil Fuel Companies Spend Next To Nothing On Renewable Energy

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

Perhaps you have seen the splashy ads from ExxonMobil touting its research efforts to create clean burning bio-fuels from algae? They want you to believe the company is leading the way to a zero carbon future. Nothing could be further from the truth. Like all of its fellow fossil fuel companies, ExxonMobil is wrapping itself in a cloak of environmental activism while continuing to poison every man, woman, and child on Earth with the pollution created by its business activities. The industry won’t be satisfied until every molecule of all the fossil fuels in the world has been extracted, transported, sold, and burned.

https://www.youtube.com/watch?v=jQb3uNKbaKg

A new report from CDP, formerly known as the Carbon Disclosure Project, gives the lie to all that greenwashing claptrap. Based in the UK, CDP has spent decades tracking how much various companies contribute to climate change and how much they spend trying to fix it, according to Popular Mechanics. The report finds that the 24 largest fossil fuel companies in the world spent a paltry 1.8% of their 2018 operating budgets on renewable energy investments. The rest went into continuing efforts to turn the Earth into an uninhabitable cinder.

CDP fossil fuel industry renewables

The companies at the top of the list are all based in Europe. Their commitment to renewable energy is better than the rest of their peers, but their efforts are far too little to address the issue of a warming planet in any effective way. The companies most responsible for carbon pollution are the ones doing the least to address the problem.

Chip in a few dollars a month to help support independent cleantech coverage that helps to accelerate the cleantech revolution!

See where ExxonMobil is on the list? It comes in at #17. Also notice the total carbon emissions its business is responsible for — 343 million metric tons, the largest by far of any oil company in the world. Fuel from algae? Oh, please; it is too laughable. ExxonMobil is working harder to kill us all than any corporation in history. And yet it has direct access to the all the world’s political leaders.

The fossil fuel companies have gamed the system to ensure maximum profits for themselves by raping the Earth in pursuit of wealth. The unholy alliance between these companies and governments around the world amounts to nothing less than a criminal conspiracy. So long as crooks and governments are aiding and abetting each other, there is no hope for effective action on climate change.


Have a tip for CleanTechnica? Want to advertise? Want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Latest CleanTechnica.TV Videos

Advertisement
 
CleanTechnica uses affiliate links. See our policy here.

Steve Hanley

Steve writes about the interface between technology and sustainability from his home in Florida or anywhere else The Force may lead him. He is proud to be "woke" and doesn't really give a damn why the glass broke. He believes passionately in what Socrates said 3000 years ago: "The secret to change is to focus all of your energy not on fighting the old but on building the new." You can follow him on Substack and LinkedIn but not on Fakebook or any social media platforms controlled by narcissistic yahoos.

Steve Hanley has 5580 posts and counting. See all posts by Steve Hanley